Bruxelles – The EU is working to turn its €750 billion recovery package into action. The Council today adopted a regulation establishing the Recovery and Resilience Facility, which lies at the heart of the EU’s recovery plan. It will make €672.5 billion in grants and loans available for public investment and reforms in the 27 member states to help them address the impact of the COVID-19 pandemic, to foster the green and digital transitions and to build resilient and inclusive societies.
Member states will receive support from the facility on the basis of their national recovery and resilience plans, which are currently under preparation.
“With the Recovery and Resilience Facility in place, so João Leão, Portugalʼs Minister for Finance”, it is time to focus all efforts on the preparation and submission of ambitious national recovery and resilience plans. The new facility offers the EU member states the unprecedented possibility of supporting recovery from the COVID-19 crisis and of undertaking green and digital transitions in an inclusive way. We need to make the best use of this opportunity”.