NextGenerationEU supports Europe on the road to recovery
NextGenerationEU will support Europe's recovery from the COVID-19 pandemic and help to build a greener, more digital and more resilient Europe.
Key goals of NextGenerationEU include financing measures for the green and digital transitions, as well as swiftly addressing the consequences of the pandemic.
The support provided will help EU Member States to invest in energy efficiency, greening and digitalisation. The new long-term budget will increase flexibility to guarantee it has the capacity to address future challenges.
The recovery instrument has attracted strong interest from investors across Europe and the world, and in its second transaction raised €15 billion to finance Europe's recovery.
The Commissioner in charge of budget and administration, Johannes Hahn, said: “This is the second time the Commission has gone to the markets to borrow under NextGenerationEU and again we have received a strong vote of confidence from our investors. I am glad that the money raised today will help build a greener, more digital and more resilient Europe”.
Following this new transaction, the Commission has raised €35 billion under NextGenerationEU. This is the second transaction under the programme. The first bond was the largest bond ever issued in Europe. By the end of 2021, the Commission expects to raise €80 billion.
More than 50% of the amount will support modernisation through:
- research and innovation
- fair climate and digital transitions
- preparedness, recovery and resilience via the Recovery and Resilience Facility
- modernising policies
- fighting climate change
- biodiversity protection
- gender equality
Find the key figures for NextGenerationEU here:
- Recovery and Resilience Facility: Grants allocation per Member State
- REACT-EU: Allocations 2021
- Just Transition Fund: Allocations per Member State
- European Agricultural Fund for Rural Development: Allocations per Member State
Watch the promotional video below.