11/10/2022 0 Comments Finale version 25 response r![]() ![]() Each plan sets out the reforms and investments to be implemented by end-2026 and Member States can receive financing up to a previously agreed allocation.Įach plan should effectively address challenges identified in the European Semester, particularly the country-specific recommendations of 20 adopted by the Council. To benefit from the support of the Facility, Member States submit their recovery and resilience plans to the European Commission. ![]() It finances reforms and investments in Member States from the start of the pandemic in February 2020 until 31 December 2026. The RRF entered into force on 19 February 2021. "Six pillars of the Recovery and Resilience Facility” ![]() The Facility is structured around six pillars: green transition digital transformation economic cohesion, productivity and competitiveness social and territorial cohesion health, economic, social and institutional resilience policies for the next generation. "Quantifying Spillovers of Next Generation EU Investment, Discussion Paper July 2021." The effects of NextGenerationEU on the EU’s real GDP (until 2024 in a high productivity scenario) Joint, coordinated action at the European level is more effective and benefits Member States more than individual national expenditures, not least due to significant spillover effects across countries. This exceeds the agreed targets of 37% for climate and 20% for digital spending. The visual shows that Member States have allocated almost 40% of the spending in their plans to climate measures and more than 26% on the digital transition across the 22 recovery and resilience plans approved so far. "Twin transitions: climate neutrality and digital transitions" The RRF helps the EU achieve its target of climate neutrality by 2050 and sets Europe on a path of digital transition, creating jobs and spurring growth in the process. It makes available €723.8 billion (in current prices) in loans (€385.8 billion) and grants (€338 billion) for that purpose. It allows the Commission to raise funds to help Member States implement reforms and investments that are in line with the EU’s priorities and that address the challenges identified in country-specific recommendations under the European Semester framework of economic and social policy coordination. The Facility is a temporary recovery instrument. If you run into any problems, please feel free to contact Customer Success.Readying Europe for the future – the Recovery and Resilience Facility You can now launch Finale from the new item in your Applications folder.
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