{"id":153644,"date":"2024-10-11T03:00:28","date_gmt":"2024-10-11T01:00:28","guid":{"rendered":"https:\/\/www.cde.ual.es\/?p=153644"},"modified":"2024-10-10T14:18:00","modified_gmt":"2024-10-10T12:18:00","slug":"the-recovery-and-resilience-facility-continues-to-deliver-commission-third-annual-report-shows","status":"publish","type":"post","link":"https:\/\/www.cde.ual.es\/en\/the-recovery-and-resilience-facility-continues-to-deliver-commission-third-annual-report-shows\/","title":{"rendered":"The Recovery and Resilience Facility continues to deliver, Commission third annual report shows"},"content":{"rendered":"

The implementation of the Recovery and Resilience Facility (RRF), at the heart of the EU’s recovery instrument NextGenerationEU, is speeding up, fostering continuous reform and investment progress in Member States. As shown in the Commission’s\u00a0third Annual Report<\/strong>\u00a0on the RRF\u00a0adopted today<\/a>, the Commission is supporting Member States in the full and timely delivery of their plans through more streamlined processes, and has further improved both transparency and mechanisms to protect the EU financial interests.<\/p>\n

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The RRF, with \u20ac650 billion in grants and loans, is a critical driver of ambitious investments and reforms across Member States, in initiatives that advance the green and digital transition, and strengthen the resilience and competitiveness of the EU.<\/p>\n

Since its inception, the RRF has driven\u00a0over \u20ac82 billion<\/strong>\u00a0in investments directly supporting\u00a0businesses<\/strong>. Over 900 reforms are being delivered to cut red tape and speed up business processes\u00a0to obtain permits and licenses for example<\/span>, helping EU industry become more competitive. With RRF support,\u00a034 million megawatts hours<\/strong>\u00a0in energy consumption have been saved, over\u00a011.8 million people<\/strong>\u00a0have participated in education and training, and\u00a09.8 million people<\/strong>\u00a0benefitted from protection measures against climate-related disasters.<\/p>\n

The Commission, Member States, and all relevant stakeholders, along with the European Parliament and Council, have worked closely together to achieve these results.<\/p>\n

Over \u20ac300 billion in RRF funds expected to be disbursed by the end of 2024<\/strong><\/p>\n

Implementation and disbursements<\/strong>\u00a0under the RRF have\u00a0accelerated<\/strong>\u00a0after some delays in 2023 largely linked to Russia’s illegal invasion of Ukraine, high inflation, supply constraints and the need to adopt REPowerEU chapters. To date, the Council has endorsed 26 such chapters, which provide additional funds to roll out reforms and investments that diversify the EU’s energy supplies, accelerate the green transition, and support vulnerable households.<\/p>\n

As of today, the Commission received 69 payment requests from 25 Member States and disbursed over \u20ac267 billion, i.e. more than 40% of the available RRF funding. By the end of the year, over \u20ac300 billion in RRF funds are expected to be disbursed. The report details numerous examples of how progress with reforms and investments across the six RRF policy pillars is having a tangible and positive impact on citizens and businesses alike.<\/p>\n

The Union has also continued to successfully raise funds on the capital markets to finance the Facility, with more than \u20ac60.2 billion issued in NextGenerationEU Green Bonds to date.<\/p>\n

Implementation by Member States made simpler<\/strong><\/p>\n

In view of the\u00a0time-bound nature of the RRF<\/strong>, all efforts should remain focused on the full and timely implementation of the plans by 2026. Member States must continue to swiftly implement their RRPs in full, and the Commission is actively supporting them in these efforts.<\/p>\n

In this context, the\u00a0Commission<\/strong>\u00a0took\u00a0further steps\u00a0<\/strong>in 2024\u00a0to support Member States<\/strong>\u00a0in the implementation of the RRF. In July this year, the Commission introduced\u00a0simpler processes\u00a0<\/strong>in\u00a0updated guidance<\/a>\u00a0to Member States, with a focus on how to revise plans, which will remain relevant to address implementation bottlenecks. Reporting requirements for Member States have also been streamlined. In addition, further clarity has been provided on ways to combine RRF with other EU funds to enhance synergies.<\/p>\n

Reinforced transparency<\/strong><\/p>\n

The Commission is striving for high clarity and transparency in the implementation of the RRF, even beyond legal requirements.<\/p>\n

For example, the report adopted today includes an\u00a0in-depth analysis<\/strong>\u00a0of Member States’ data on the\u00a0100 largest final recipients of funding under the RRF<\/strong>. The Commission is also providing further\u00a0guidance on key concepts<\/strong>\u00a0in the RRF Regulation, for transparency and clarity, which are laid out in the annexes to the report:<\/p>\n