COVID-19: first go-ahead given to the new Recovery and Resilience Facility
On Monday, MEPs adopted the Recovery and Resilience Facility, an instrument designed to help EU countries tackling the effects and consequences of the COVID-19 pandemic.
- €672,5 billion in grants and loans to support EU countries for four years
- Funds available only to member states that respect the rule of law
- EU funding should be visible and implemented transparently
The Budgets and Economic and Monetary Affairs committees adopted the objectives, financing and the rules for providing funding from the Recovery and Resilience Facility (RRF), with 73 votes to 11 and 15 abstentions.
MEPs also adopted a mandate to enter into negotiations with EU governments by 84 votes to 11 and 4 abstentions. They want the mandate to be announced during the upcoming plenary of 11-13 November, to be able to start the talks without delay.
Eligibility to receive funding
MEPs agreed that the RFF should only be made available to member states committed to respecting the rule of law and the European Union’s fundamental values. National recovery and resilience plans would be eligible for financing if they are consistent with six EU priorities – green transition, digital transformation, economic cohesion and competitiveness, social and territorial cohesion, institutional crisis-reaction and crisis preparedness, as well as with Next Generation EU policies, which include the European Skills Agenda, the Youth Guarantee and the Child Guarantee.
MEPs also want each plan to contribute at least 40% of its budget to climate and biodiversity and at least 20% to digital actions. The plans should have a lasting impact on EU countries in both social and economic terms and provide comprehensive reform and a robust investment package.
Latest News from
President von der Leyen marks the EU's commitment to the Partnership for Global Infrastructure and Investment (PGII) during the event hosted at the G20 in New Delhi12/09/2023 15:25:00
President von der Leyen recently (09 September 2023) spoke at the G20 event on PGII hosted by Prime Minister Modi and President Biden.
Summer 2023 Economic Forecast: Easing growth momentum amid declining inflation and robust labour market12/09/2023 13:25:00
The European Commission yesterday presented the Summer 2023 Economic Forecast
Climate change: Deal on a more ambitious Emissions Trading System (ETS)20/12/2022 10:33:00
On Saturday night, MEPs and EU governments agreed to reform the Emissions Trading System to further reduce industrial emissions and invest more in climate friendly technologies.
EU and Ukraine sign €100 million for the rehabilitation of war-damaged schools *20/12/2022 09:25:00
Exactly three months after President von der Leyen's announcement in her 2022 State of the Union Address, the European Commission and the Government of Ukraine have signed a €100 million support package for the reconstruction and rehabilitation of schooling facilities damaged in Russia's full-scale war of aggression against Ukraine.
NextGenerationEU: European Commission endorses positive preliminary assessment of Portugal's second request for €1.8 billion disbursement under the Recovery and Resilience Facility19/12/2022 16:33:00
The European Commission recently (16 December 2022) endorsed a positive preliminary assessment of Portugal's payment request for €1.8 billion of grants and loans under the Recovery and Resilience Facility (RRF), the key instrument at the heart of NextGenerationEU.
'Fit for 55': Council and Parliament reach provisional deal on EU emissions trading system and the Social Climate Fund19/12/2022 15:25:00
The Council and the European Parliament reached a provisional political agreement on important legislative proposals of the ‘Fit for 55’ package that will further reduce emissions and address their social impacts.
Ukraine: EU agrees ninth package of sanctions against Russia19/12/2022 14:33:00
The Commission welcomes the Council's adoption of a ninth package of hard-hitting sanctions against Russia for its aggression against Ukraine.
Council and European Parliament agree on new safety requirements for machinery products19/12/2022 13:25:00
The Council and the European Parliament negotiators have reached a provisional agreement on the regulation for machinery products. The proposed legislation transforms the 2006 machinery directive into a regulation.