Recovery and Resilience Facility: main achievements in its second anniversary

The second anniversary of the creation of the Recovery and Resilience Facility (RRF), the key instrument in the €800 billion NextGenerationEU recovery plan for Europe, is an opportunity to reflect on the main achievements and challenges of this unprecedented mechanism.

The RRF was adopted during the COVID-19 pandemic with the aim of helping Member States recover from that situation in a faster and more resilient way. The instrument is being carried out in a constantly evolving environment, affected by global instability, the war in Ukraine, high inflation rates, and a global energy crisis.

Over €144 billion under the RRF in the last 2 years

Overall, the European Commission has disbursed more than €144 billion under the Recovery and Resilience Facility (RRF), divided into grants (€97 billion) and loans (€47 billion). This includes the €56.5 billion pre-financing delivered to Member States in 2021.

Main achievements of the Recovery and Resilience Facility

The RRF has given significant financial support to Member States, allowing them to face the economic and social challenges caused by the COVID-19 crisis, accelerating their green and digital transitions, and strengthening their resilience to face future challenges.

• €203 billion for climate action
• €131 billion for digital transition
• The GDP in the EU has increased by 3.5%
• The unemployment rate has fallen to 6.1%, the lowest in history
• In 2022, the EU’s gross emissions reached €119 billion under long-term instruments

What’s expected from the Recovery and Resilience Facility in 2023?

• Disimbursements and the whole implementation of the RRF will be at their peak in 2023, supporting investment as well as public and private reforms.
• Public investments will increase from a 3.0% of the GDP in 2019 to a 3.4% of the GDP in 2023.

Contribution to a net-zero future

A total of €203 billion have been allocated to green measures under the 27 national Recovery and Resilience Plans, including instruments that, like REPowerEU, will contribute to the decarbonisation of European industries and ensure a safe, affordable, green energy. This adds to the green agenda which has already been presented by Member States in their existing Recovery and Resilience Plans.

The Green Deal Industrial Plan sets the Recovery and Resilience Facility (RRF) and REPowerEU at the core of the EU’s response to structural challenges that are affecting the competetiveness of the clean technologies sector, boosting its financial potential. Today, Member States have access to €270 billion, with €225 billion in remaining loans, €20 billion in new grants and up to €23 billion in grants available to be transfered from other EU funds.

FI Group has 20 years of experience and wants to accompany you on the new NextGenerationEU path. Our experts are at your disposal to analyse how your project fits into the NextGenerationEU European recovery fund and to take the next steps together with you. Contact us.

Marina Marcos