The Recovery and Resilience Facility, with its maximum of €672.5 billion, will mitigate the negative economic and social impact of the coronavirus pandemic and will contribute to the green and digital transition of the EU.
EU Member States lay down their plans on reforms and investments until 2026.
The countries and the EU agree upon milestones and targets of the plans.
After implementing reforms and investments, Member States request disbursements up to twice a year.
The Commission will issue bonds on behalf of the EU to raise the necessary funds then disburses the money in the form of grants and/or loans as agreed with the Member States.