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Since the first report in 2021, the third of a series of annual reports by the Commission is covering the implementation of the Recovery-Resilient Facility, RRF during its entire lifespan, as required by the RRF Regulation. The report serves as an integral part of the ongoing dialogue on the RRF implementation both among the Union institutions and with the numerous stakeholders and the member states.
Background
The Recovery and Resilience Scoreboard gives an overview of how the implementation of the Recovery and Resilience Facility, RRF and the national recovery and resilience plans is progressing. The RRF entered into force in February 2021 to mitigate the economic and social impact of the Covid-19 pandemic.
The RRF is the cornerstone of the NextGenerationEU program, an unprecedented EU recovery instrument to help repair the immediate economic and social damage of the coronavirus pandemic and disburse about €648 billion in grants and loans to the EU member states.
The states will use the RRF funds to implement ambitious reforms and investments to make their economies and societies more sustainable, resilient and prepared for the green and digital transitions.
The states can also use RRF funds to support investments contributing to the objectives of the Strategic Technologies for Europe Platform, STEP, to boost EU industrial competitiveness by focusing on developing critical technologies in Europe.
More on STEP in the Strategic Technologies for Europe Platform Portal: https://strategic-technologies.europa.eu/index_en
The information provided in the report is based on the content of the national recovery and resilience plans adopted and assessed by the Commission, using the data reported by the member states by April 2024 as part of their bi-annual reporting obligations. Besides, the developments in the implementation of the RRF until 31 August 2024 were included as well.
Progress in the implementation of recovery and resilience plans can be followed on the Recovery and Resilience Scoreboard, an online portal the Commission set up in December 2021. More information is on the RRF’s webpage, which features an interactive map of projects financed by the RRF.
More on the scoreboard in: https://ec.europa.eu/economy_finance/recovery-and-resilience-scoreboard/index.html
European post-pandemic recovery process
The implementation of the Recovery and Resilience Facility, RRF is both at the center of the EU’s recovery instrument NextGenerationEU program and is fostering continuous reform and investment progress in the member states. As shown in the Commission’s third Annual Report on the RRF adopted on 10 October 2024, the Commission is supporting the states in complete and timely delivery of their plans through more streamlined processes; it has further improved both transparency and mechanisms to protect the EU financial interests.
The RRF, with over €650 billion in grants and loans, is a critical driver for ambitious EU-wide investments and reforms, as well as in advancing twin (green-digital) transition while strengthening the European resilience and competitiveness.
Since its inception, the RRF has driven over €82 billion in investments directly supporting businesses: i.e. over 900 reforms are being delivered to cut red tape and speed up business processes to obtain permits and licenses; in short helping EU industry become more competitive. With RRF support, 34 million megawatts hours in energy consumption have been saved, over 11.8 million people have participated in education and training, and 9.8 million people benefitted from protection measures against climate-related disasters.
Reference to: https://ec.europa.eu/commission/presscorner/detail/en/ip_24_5206
Presently, the Commission received 69 payment requests from 25 states and disbursed over €267 billion, i.e. more than 40% of the available RRF funding. By the end of 2024, over €300 billion in RRF funds are expected to be disbursed. The report details numerous examples of how progress with reforms and investments across the six RRF policy pillars is having a tangible and positive impact on citizens and businesses alike. The EU has also continued to successfully raise funds on the capital markets to finance the RRF, with more than €60.2 billion issued in NextGenerationEU Green Bonds presently.
More in the report at:https://commission.europa.eu/publications/recovery-and-resilience-facility-annual-report-2024_en