Recovery fund: the engine behind the European transformation

European Commission president, Ursula von der Leyen; Portuguese prime minister, Antonio Costa; and European Parliament president, David Sassoli, during the Porto summit on 7 May. [European Parliament]

The unprecedented Recovery and Resilience Facility, the main instrument of the EU’s €800 billion recovery fund, represents a unique opportunity to overcome the recession triggered by the COVID-19 pandemic and complete the twin green and digital transitions of the European economies.

But the European Commission, international institutions, and experts agree that for this to work, member states must put forward well-designed investment proposals, ambitious reforms and solid governance systems.

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