Commission endorses recovery and resilience plans of Greece, Spain and Portugal
The European Commission has endorsed the recovery and resilience plans of Greece, Spain and Portugal, and is expected to do so with Denmark and Luxembourg’s plans as well by the end of the week.
This is a necessary step before the Council of the EU formally approves each national plan in four weeks’ time, which will allow Member States to receive the funds from the Next Generation EU Recovery Fund. Such funds are intended to support the implementation of the investment and reform measures outlined in each Member State's recovery and resilience plan, in order to overcome the economic situation caused by the COVID-19 pandemic.
The Commission is assessing each national plan on the basis of the criteria laid out in the Recovery