EUROPEAN PARLIAMENT'S APPROVAL OF RECOVERY AND RESILIENCE FACILITY

Created on Friday, 12 Feb 2021 16:26:00

On the 9th of February, the EP voted and passed EU’s Recovery and Resilience Facility (RRF): the EU's centrepiece of #NextGenerationEU COVID-19 recovery package. Unprecedented fundings - €672.5 billion in grants (up to €312.5 billion) and loans (up to €360 billion) - will finance national measures designed to alleviate consequences of the pandemic and guarantee a green and sustainable recovery.

Member States have to submit their own recovery and resilience plans to the European Commission to be assessed within two months. To be eligible, those plans must design sustainable investments and reforms projects that are in line with six key areas identified by the EU:

  • green transition
  • digital transformation
  • growth, jobs and cohesion
  • social and territorial cohesion
  • health, economic, social and institutional resilience
  • policies for the next generation

The priority is given to the first two key areas identified, since each national plan has to dedicate at least 37% of expenditure for climate investments and reforms and 20% to foster the digital transition. Of note is that Member States who are not committed to respecting the rule of law and the European Union’s fundamental values may not receive money from the RRF.

Thereafter, the Council will approve those plans within a month on a case-by-case basis, and a pre-financing of 13% of the total amount allocated to Member States will be made available. Subsequent disbursements will depend on reaching concrete milestones and targets, and will have to be set out in the plans.

Official results of the 9th of February EP voting session: 582 votes in favour, 40 against and 69 abstentions. The European Council adopted the RRF on the 11st of February. It is now expected to be published in the Official Journal on 18 February and will enter into force the following day.
More information available on the EU's next long-term budget and #NextGenerationEU here.

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Four new partners join the office (Rugby Europe, ENGSO, LEN and FIFA)

The European Handball Federation (EHF) becomes partner of the office

The International Ice Hockey Federation (IIHF) becomes partner of the office

The Italian Olympic Committee (CONI) becomes partner of the office

The Czech Olympic Committee becomes partner of the office

The European Volleyball Confederation (CEV) becomes partner of the office, bringing the total partnership to 23

The European Basketball Federation (FIBA Europe) becomes partner of the office, bringing the total partnership to 24

The British Olympic Association (BOA) becomes partner of the office, bringing the total partnership to 25

The NOC of Portugal becomes partner of the office, bringing the total partnership to 26

​The NOC of Croatia becomes partner of the office

​The NOC of Lithuania becomes partner of the office

The NOC of Cyprus becomes partner of the office

The Belgian NOC becomes partner of the office

ASOIF becomes partner of the office

NOC Poland becomes partner of the office, bringing the total number of partners to 30

 

 

 

 

 

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