| Author (Corporate) | European Commission: Secretariat General |
|---|---|
| Series Details | COM (2024) 82 |
| Publication Date | 21/02/2024 |
| Content Type | News, Report |
Summary:Communication published by the European Commission on 21 February 2024, marking the half-way point of the Recovery and Resilience Facility (RRF). Further information:The Recovery and Resilience Facility (RRF) was designed as a response to the economic and social effects of the COVID-19 (coronavirus) pandemic. It was established in 2021 as the centrepiece of the NextGenerationEU (NGEU), the European Union's (EU) recovery instrument. It was set to last until the end of 2026, and it was established to help Member States recover from the aftermath of the pandemic whilst boosting the EU's resilience amidst the green and digital transitions. The RRF is the EU's first major performance-based funding programme, disbursing funds to countries against the progress made towards the reforms and investments put forward in their national Recovery and Resilience Plans (NRRPs). These must be in line with the priorities identified in Regulation (EU) 2021/241 - also known as the RRF Regulation - and address national challenges identified in the European Semester cycle through country-specific recommendations (CSRs). In the three years since the entry into force of the RRF Regulation, around €225 billion have been disbursed and around 75% of the milestones and targets planned to be achieved by the end of 2023 have either been assessed by the European Commission as satisfactory fulfilled or report as completed by Member States. Countries have also made progress in addressing the CSRs issued to them. The RRF has also effectively supported the economic recovery of the EU, and it has proven to be an agile instrument. Member States could benefit from additional resources int the context of the REPowerEU plan. The mid-term evaluation of the Facility is in line with the requirements of the RRF Regulation. It assess how it is delivering against the objectives, based on available evidence. It does so by considering the five evaluation criteria of effectiveness, efficiency, relevance, coherence and European added value. The Staff Working Document accompanying the Communication provides further details on the assessment. The Communication presents the main insights from the mid-term evaluation and takes stock of the implementation of the RRF. |
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| Source Link | https://eur-lex.europa.eu/legal-content/EN/ALL/?uri=COM:2024:82:FIN |
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| Subject Categories | Economic and Financial Affairs |
| Subject Tags | Economic Governance | Situation, EU Budget, Multiannual Financial Framework [MFF] |
| Keywords | COVID-19 (Coronavirus), MFF 2021-2027 |
| International Organisations | European Union [EU] |
