NextGenerationEU

NextGenerationEU is a temporary European Union (EU) €750 billion financial instrument created to help repair the immediate economic and social damage in the wake of the COVID-19 pandemic.

It is at the heart of the EU response to the coronavirus crisis and aims to support economic recovery and build a greener, more digital and more resilient future.

NextGenerationEU is made up of:

• the Recovery and Resilience Facility — €672.5 billion in grants and loans available to support reforms and investments undertaken by EU Member States;
• Recovery Assistance for Cohesion and the Territories of Europe (REACT-EU) — €47.5 billion to help tackle the economic consequences of COVID-19 in the first years of the recovery;
• additional funding for several other EU programmes in addition to the funding planned in the EU long-term budget 2021-2027:
  • Horizon Europe (€5 bn),
  • InvestEU (€5.6 bn),
  • rural development (€7.5 bn),
  • the Just Transition Fund €10 bn),
  • RescEU (€1.9 bn).

To finance NextGenerationEU, the European Commission, on behalf of the EU, will borrow on the capital markets.

All amounts referred to above are in 2018 prices.

SEE ALSO

• European Union
• Horizon Europe
• Multiannual Financial Framework (MFF)
• European Green Deal (summary)
• EU Recovery and Resilience Facility (summary)
• EU Recovery Instrument NextGenerationEU (summary)
• EU multiannual financial framework (2021-2027) (summary)
• InvestEU Programme (2021-2027) (summary)
• Strengthening the EU’s collective capacity to prevent, prepare for and respond to disaster (summary)
• Recovery plan for Europe (European Commission)
• 2021-2027 long-term EU budget and NextGenerationEU (European Commission)
• The Recovery and Resilience Facility (European Commission)
• EU as a borrower (European Commission)
• The EU’s 2021-2027 long-term budget & NextGenerationEU (European Commission)
• Cohesion policy action against coronavirus (European Commission)
• Shaping Europe’s digital future (European Commission).