Rules of Procedure of the Resilience and Recovery Mechanism published
In order to help repair the economic and social damage caused by the COVID-19 pandemic, the European Commission launches the European Recovery and Resilience Mechanism, the central instrument of NextGenerationEU and the best endowed with 672.5 billion euros.
In this way, the regulation of the Recovery and Resilience Mechanism has been approved, which was published in the Official Journal of the European Union (OJEU) on 18 February. This document also sets out the objectives of the Mechanism, its funding modalities and the rules for its concession.
In this way, the objective of the Facility is to contribute directly to economic, social and territorial cohesion, making the European Union resilient, prepared for future crises, more sustainable, digital and meeting the objective of climate neutrality by 2050.
To achieve this objective, the European Commission will provide Member States with the necessary financial assistance to meet the milestones and targets for reforms and investments set out in their recovery and resilience plans, which should focus on six key pillars:
- Green transition
- Digital transformation
- Smart, sustainable and inclusive growth
- Social and territorial cohesion
- Economic, social and institutional health and resilience
- Policies for the next generation
NextGeneratioEU thus makes a fund of EUR 750 billion available to the Member States, to be allocated in accordance with Regulation (EU) 2020/2094, based on 2018 prices and with the following distribution:
- Up to EUR 384.4 billion in the form of non-repayable aid and repayable aid through financial instruments, distributed under different conceptual headings, including – among others – an envelope of up to EUR 5 billion for research and innovation-related programmes, including support through financial instruments.
- Up to EUR 360 billion in loans to Member States for a programme to finance economic and social recovery and resilience through support for reforms and investment.
- Up to EUR 5.6 billion for provisions for budgetary guarantees and related expenditure for programmes to support investment operations in the field of the Union’s internal policies.
More information at: BOE.es – Documento DOUE-L-2021-80170
