NextGenerationEU: Two years on since its adoption

NextGenerationEU: Two years on since its adoption. Image: European Commission.

The Recovery and Resilience Facility continues to be a central driver of the EU’s green and digital transformation.

The European Commission marked the two-year anniversary of the creation of the Recovery and Resilience Facility (RRF) on Tuesday, February 21.

The RRF is the key instrument at the heart of the EUR 800 billion NextGeneration EU recovery plan for Europe.

President of the European Commission Ursula von der Leyen confirmed: “Our recovery plan NextGenerationEU has become even more than a vital response to the COVID-19 pandemic.”

“Two years after the creation of the fund, we have already disbursed more than €140 billion and we overachieved our initial investment targets for the green and digital transitions.”

“Now, with Russia’s brutal invasion of Ukraine and a global energy crisis, the fund has become a key element of our Green Deal Industrial Plan.”

“It will support our Member States on the road to net-zero, with the additional financial boost of REPowerEU. NextGenerationEU has proven to be a capable instrument to address many different challenges our Union is being confronted with.”

“The transformative reforms through Member States’ national recovery plans are key to modernising and strengthening our European Union. Speedy implementation should continue.”


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Written by

Anna Ellis

Originally from the UK, Anna is based on the Costa Blanca and is a web reporter for The Euro Weekly News covering international and Spanish national news. Got a news story you want to share? Then get in touch at