Recovery and Resilience Facility, new opportunity in Cohesion Policy
The Facility is perhaps the most important recovery instrument to date in overcoming the current crisis. The Facility will provide an unprecedented €672.5 billion of loans and grants in frontloaded financial support for the crucial first years of the recovery. In order to benefit from the Recovery and Resilience Facility, Member States should submit their draft recovery and resilience plans outlining national investment and reform agendas in line with the aforementioned EU policy criteria. Member States’ recovery and resilience plans should address the economic policy challenges set out in the country-specific recommendations of recent years and in particular in the 2019 and 2020 cycles. The plans should also enable Member States to enhance their economic growth potential, job creation and economic and social resilience, and to meet the green and digital transitions.
The EU offers Member States a number of reform options that may be relevant in various areas – the Commission therefore strongly encourages Member States to include in their plans the following flagship areas:
- Power up – The frontloading of future-proof clean technologies and acceleration of the development and use of renewables.
- Renovate – The improvement of energy efficiency of public and private buildings.
- Recharge and Refuel – The promotion of future-proof clean technologies to accelerate the use of sustainable, accessible and smart transport, charging and refuelling stations and extension of public transport.
- Connect – The fast rollout of rapid broadband services to all regions and households, including fiber and 5G networks.
- Modernise – The digitalisation of public administration and services, including judicial and healthcare systems.
- Scale-up – The increase in European industrial data cloud capacities and the development of the most powerful, cutting edge, and sustainable processors.
- Reskill and upskill – The adaptation of education systems to support digital skills and educational and vocational training for all ages.
President Ursula von der Leyen said: ‘The Recovery and Resilience Facility is at the very heart of NextGenerationEU. It is our key tool to turn the immediate challenges presented by the coronavirus pandemic into a long-term opportunity. Member States need clear guidance to ensure the Facility’s €672 billion is invested both for Europe’s immediate economic recovery, but also for long-term sustainable and inclusive growth. Today, we are presenting this guidance and stand ready to support Member States in developing their national strategies.’
The Commission calls on the European Parliament and the Council to agree as quickly as possible on the legislative proposal so that the Facility becomes operational as of 1 January 2021.
https://ec.europa.eu/commission/presscorner/detail/en/IP_20_1658