Mon. Feb 17th, 2025

Brussels, 21 January 2025

The EU Council today approved the Commission’s positive assessment of the amended recovery and resilience (RRF) plans submitted by Greece, Cyprus, and Spain. According to the analysis of the Commission, the targeted modifications put forward by the member states do not affect the relevance, effectiveness, efficiency and coherence of their recovery and resilience plans.

Greece

On 21 October 2024, Greece submitted targeted amendments to its recovery and resilience plan. The plan is worth € 36.6 billion in grants and loans.

Cyprus

On 25 October 2024, Cyprus submitted targeted amendments to its recovery and resilience plan. The plan is now worth € 1.2 billion in grants and loans.

Spain

On 3 December 2024, Spain submitted targeted amendments to its recovery and resilience plan. The plan is worth € 163 billion in grants and loans.

Background

The RRF is the EU’s large-scale financial support programme in response to the challenges the COVID-19 pandemic has posed to the European economy. It is the centrepiece of NextGenerationEU, a temporary recovery instrument that allows the Commission to raise funds to help repair the immediate economic and social damage caused by the pandemic.

To benefit from the facility, member states must submit recovery and resilience plans (RRPs) to the Commission, setting out the reforms and investments they intend to complete by 31 August 2026.

To date, all RRPs have been approved, 86 payment requests have been received and more than €306 billion have been disbursed.

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