Regulation establishing the Recovery and Resilience Facility adopted
Following its adoption by the European Parliament, the Council of the EU has adopted a Regulation establishing the Recovery and Resilience Facility (RRF), a key piece of the EU’s post-pandemic recovery plan, which is expected to be published in the OJ on Thursday 18 February and to enter into force the following day.
This regulation will make 672.5 billion euros in grants and loans available for public investment and reforms in the Member States to help them address the impact of the COVID-19 pandemic, to foster the green and digital transitions, and to build resilient and inclusive societies.
Support will be linked to country-specific recommendations under the European Semester. Such recommendations will be issued on the basis of the National Recovery and Resilience Plans (NRRP), currently under preparation in each Member State, in which coherent packages of reforms and investment projects need to be set out, together with adequate control systems to prevent, detect and correct corruption, fraud, and conflicts of interest.
The Regulation establishing the RRF is available here.