The Recovery and Resilience Facility (RRF) is the cornerstone of the EU's NextGenerationEU initiative, designed to mitigate the economic and social impacts of the COVID-19 pandemic. With EUR 723.8 billion (EUR 385.8 billion in loans and EUR 338 billion in grants), the RRF supports Member States in implementing reforms and investments aligned with EU priorities.

Key objectives:

• Promote cohesion: strengthening economic and social resilience across the EU.
• Green transition: advancing environmental sustainability initiatives.
• Digital transformation: enhancing digital infrastructure and capabilities.
• Economic recovery: addressing the pandemic's adverse effects on economies and societies.

Member States must develop recovery and resilience plans, outlining reforms and public investments to be implemented by 2026. As of February 2024, the RRF has driven significant progress, with over 1 150 milestones and targets achieved by the end of 2023, highlighting its impact on EU citizens and businesses.

For detailed insights, the Recovery and Resilience Facility Annual Report 2024 provides a comprehensive review of the RRF's performance. By fostering targeted reforms and investments, the RRF aims to create more sustainable, resilient economies prepared for the green and digital transitions.