Recovery and resilience facility (RRF)
Renginio data: 03/02/2021
The Recovery and Resilience Facility is intended to be the Union's main tool in support of economic and social recovery from the consequences of the coronavirus pandemic.
It will provide €672.5 billion in grants and loans as financial support over the coming years. The Facility is the flagship instrument of Next Generation EU and aims to offer large-scale financial support for public investment and reform, in order to mitigate the economic and social consequences of the pandemic in the Member States and to make EU economies more sustainable. The scope of application refers to policy areas related to economic, social and territorial cohesion, the green and digital transitions, health, competitiveness, resilience, productivity, education and skills, research and innovation, smart, sustainable and inclusive growth, jobs and investment, and the stability of the financial systems.
In order to receive support through the Facility, Member States will be required to produce recovery and resilience plans proposing a congruent set of reforms and public investment projects that could be implemented up until 2026.
Currently, the European Parliament, the Council and the Commission are committed to completing the Facility's design phase and ensuring its prompt entry into force.
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