This temporary instrument designed to boost the recovery, will be the largest stimulus package ever financed through the EU budget.
Under the facility, EU countries MUST spend a minimum of 37% on green investments and reforms, as well as 20% on digital. The rules also exclude investments contrary to the bloc’s decarbonisation objectives, the so called “do no significant harm” principle.
The national recovery plans (many released ahead of the April/2021 deadline, to be then reviewed by the European Commission), will be crucial for ensuring a green recovery in Europe. Are national governments really prioritising a green recovery? Will participation opportunities, and the transparency of the process, improve? Will decision-makers in the Commission and elsewhere put their weight behind measures that ensure recovery plans live up to the enormous opportunity that this unique investment package offers?
Source: European Commission website https://ec.europa.eu/info/business-economy-euro/recovery-coronavirus/recovery-and-resilience-facility_en