EU Recovery and Resilience Fund: instruments and governance

Abstract

The outbreak of the COVID-19 pandemic caused the disruption of the normal functioning of European economies. The European Union reacted to this eventuality, and its economic consequences, in a uniquely rapid and effective manner and, in addition to other common emergency instruments, agreed on an investment mechanism unprecedented in its amount —around 800 billion euros— and in its financing, through the issuance of debt by the European Commission. The context of Russia's invasion of Ukraine is an added stumbling block to economic growth in an environment of inflationary pressures. In this respect, the implementation and execution of the various recovery and resilience plans are all the more important.

Keywords:

economic growth, NextGenerationEU, employment, pandemic, crisis, Ukraine, funds, Europe, EU

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