The Court of Auditors (ECA) published its Annual Report, in which, for the nineteenth consecutive year, the EU’s annual accounts have been given a clean bill of health. The ECA confirmed that the collection of EU revenue was free from material error. Key milestones for the EU budget in 2025: Against a backdrop of geopolitical […]
NextGenerationEU is proving its strong track record as implementation draws to a close
The European Commission presents the fifth annual report on the Recovery and Resilience Facility (RRF). As the EU’s flagship recovery instrument under NextGenerationEU, the RRM has already disbursed €450,000 million in grants and loans, representing almost 80 per cent of the total amount requested by Member States. Established in 2021 as an immediate response to […]
European Commission approves preliminary assessment of Spain’s fourth payment request under the Recovery and Resilience Mechanism
The Commission has endorsed a positive preliminary assessment of 60 out of the 61 milestones and targets linked to Spain’s fourth payment request for €10 billion (net of pre-financing) under the Recovery and Resilience Facility, the centrepiece of NextGenerationEU. Positive preliminary assessment of all but one target The payment request covers important steps in the delivery of 34 reforms and 26 […]
EU to invest €13.5 billion in research and innovation for 2023-2024
The Commission has adopted today the main Horizon Europe work programme 2023-24, with around €13.5 billion to support researchers and innovators in Europe to pursue breakthrough solutions for environmental, energy, digital and geopolitical challenges. As part of the broader EU €95.5 billion research and innovation programme, Horizon Europe, this funding will contribute to the EU reaching its climate goals, increasing energy resilience, […]
NextGenerationEU: Spain asks the Commission to pay 6 billion euros in subsidies in the MRRF
This is Spain’s third payment request and refers to 24 milestones and five targets covering various reforms and investments in the areas of green and digital transitions, pensions, research, development and innovation, education and vocational training. In addition, this funding will benefit healthcare, support for vulnerable groups, insolvency procedures, the quality of public spending and the […]
Commission endorses Spain’s second payment request
The European Commission has today endorsed a positive preliminary assessment of Spain’s second payment request for €12 billion in grants under the Recovery and Resilience Facility (RRF), the key instrument at the heart of NextGenerationEU. On 30 April 2022, Spain submitted to the Commission a payment request based on the achievement of the 40 milestones and […]
REACT-EU: Commission approves a further EUR 923 million for Spain’s recovery
The Commission has granted €923 million for Spain’s digital and green recovery and transition under REACT-EU, to be implemented through the European Regional Development Fund (ERDF) and European Social Fund (ESF) operational programs. Elisa Ferreira, Commissioner for Cohesion and Reforms, said: “Cohesion policy has been at the forefront of the fight against the economic, social […]
NextGenerationEU: European Commission successfully issues first green bond to finance the sustainable recovery
The European Commission has issued the first NextGenerationEU green bond, thus raising €12 billion to be used exclusively for green and sustainable investments across the EU. This represents the world’s largest green bond issuance ever. With NextGenerationEU green bonds, the EU is set to become the world’s largest green bond issuer by far, providing a […]
Agreement between the European Parliament and EU Member States on Europe’s next long-term budget and NextGenerationEU
The European Commission has today welcomed the agreement between the European Parliament and EU Member States in the Council on Europe’s next long-term budget and NextGenerationEU, the temporary recovery instrument. Once adopted, the package of a total of €1.8 trillion will be the largest package ever financed through the EU budget. It will help rebuild […]