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EU budget for recovery: Recovery and Resilience Facility

29.5.2020 – The centrepiece of the recovery plan will be a new Recovery and Resilience Facility. The aim of the facility will be to support investments and reforms essential to a lasting recovery, to improve the economic and social resilience of the Member States, and to support the green and digital transitions. It will be available to all Member States but support will be concentrated in the parts of the Union most affected and where resilience needs are greatest. This will help to counteract widening divergences between Member States and prepare our economies for the future. The Recovery and Resilience Facility will be firmly embedded in the European Semester. Member States will draw up recovery and resilience plans as part of their National Reform Programmes. The facility comes with a proposed budget of €560 billion from Next Generation EU to help fund Member States’ recovery and resilience plans. It will be equipped with a grant facility worth up to €310 billion and will be able to make up to €250 billion in loans. More: here

Source: EC Press

 

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