In 2021, the EU set up the NextGenerationEU (NGEU) fund – worth around €800 billion – to prop up the economies of its member states during and following the COVID–19 pandemic. While the money has been flowing to member states, the flow is slow and set to end in 2026. There is also a catch – it is […]
NextGenerationEU: Implementation of the Recovery and Resilience Mechanism is definitely underway
The Commission has adopted its second annual report on the implementation of the Recovery and Resilience Mechanism (RRM), the €800 billion reform and investment instrument that is the core element of NextGenerationEU. The report shows the progress made in the implementation of the RRM: the Commission has disbursed EUR 153.4 billion for the implementation of […]
Commission receives Spain’s second payment request for €12 billion under the Recovery and Resilience Facility
On 30 April 2022, the Commission received Spain’s second payment request under the Recovery and Resilience Mechanism (RRM), for an amount of EUR 12 billion of financial support (net of pre-financing). The overall recovery and resilience plan for Spain amounts to €69.5 billion in grants. The RRF payments are results-based and depend on Spain implementing […]