The 27 EU heads of state and government have finally reached an agreement on the next multiannual budget of the EU and the 1,85 trillion-euro recovery fund, European Council President Charles Michel has announced.
The agreement provides for a recovery fund of 750 billion euros, of which 390 billion euros in grants and 360 billion euros in loans.
The distribution of the Next Generation EU amounts is as follows:
Recovery and Resilience Facility (RRF) EUR 672.5 billion
of which loans EUR 360 billion.
of which grants EUR 312.5bn.
ReactEU: EUR 47.5 billion
Horizon Europe: EUR 5 billion
InvestEU: EUR 5.6 billion
Rural Development: EUR 7.5 billion
Fair Transit Fund (JTF): EUR 10 billion
RescEU: EUR 1.9 billion
Total: EUR 750 billion
70% of the grants provided by the RRF will be committed in the years 2021 and 2022. The remaining 30% will be fully committed by the end of 2023. As a rule, the maximum volume of loans for each Member State will not exceed 6,8 % of its GNI.
The key to the allocation of RRF commitments for the years 2021-2022 is determined in accordance with the Commission proposal. In the allocation key for the year 2023 the unemployment criterion 2015-2019 is replaced, in equal proportions, by the loss of real observed in 2020 and by the cumulative loss of real GDP observed during 2020-2021 and will be calculated from 30 June 2022.
Source: Ant1
