About: EU recovery fund
France plants seed for joint EU borrowing scheme to absorb sanctions effects
European leaders emphasised at the informal European Council meeting in Paris the need to make the European economy more resilient and less reliant on Russian imports, with French President Emmanuel Macron proposing Recovery Fund-style joint borrowing at the EU level.
Macron cautious about joint EU debt plan
French President Emmanuel Macron said on Thursday (10 March) the war in Ukraine will require joint EU investments which may lead to a new bout of joint debt, but added he would prefer to talk about the goals first rather...
Spain, EU Commission agree on instrument to finance recovery plan
Spain’s left-wing government has signed an agreement with the Commission detailing all operational instruments of the country’s national recovery plan, a formal step which will allow Madrid to request, shortly, the first half-yearly “tranche” of €10 billion from EU resources.
EU mulls approving Hungary, Poland recovery plans, with conditions
The EU is prepared to approve multi-billion-euro recovery plans for Hungary and Poland in the coming weeks, but with strict conditions attached, bloc officials said.
Portugal, Luxembourg, Belgium get first tranches of EU recovery funds
Portugal, Luxembourg and Belgium on Tuesday received their first tranches of money from the 800 billion euro ($950.8 billion) EU recovery fund aimed at helping them rebound from the pandemic and make their economies greener and more digitalised.
Europe leaves austerity behind with job-driven recovery
National recovery plans are expected to create at least 800,000 jobs by 2022 in the EU, thanks to additional public and private investment and planned reforms in member states, according to the European Commission.
Commission extends deadline to approve Hungarian recovery plan
The European Commission and Hungary agreed to extend until end of September a deadline for Budapest to meet demands on its €7 billion recovery plan, the institution said on Thursday (29 July).
More than half of recovery plans approved, funds expected within days
EU finance ministers approved on Monday (26 July) the recovery plans of Croatia, Cyprus, Lithuania and Slovenia, bringing the total number of approvals to 16 out of the 27 member states.
Small businesses gain ground in sustainable recovery push
The EU’s recovery fund and new strategy on sustainable finance will expand the role small firms can play in building back the European economy in a sustainable manner, EU officials said.
EU unlocks first recovery funds amid growing Delta fears
EU-27 finance ministers in the Ecofin Council approved on Tuesday (13 July) the first batch of twelve national recovery plans, paving the way for the first payments by the end of this month, as the spread of the Delta variant of COVID-19 across Europe increases the risk of new restrictions.
EU hands out first payments from COVID-19 war chest
The European Union on Monday (28 June) handed out the first cash from its huge COVID-19 recovery fund, in the form of grants to create jobs and support businesses in economies ravaged by the pandemic.
Tensions grow in France over recovery plan cohesion policy clash
Tensions are mounting in France over crossovers between the country's €100 billion plan to recover from the economic fallout of the pandemic and the European Union's cohesion policy, with regions complaining they have not been sufficiently consulted.
The Green Brief: Building back better?
When the European Union prepared its response to the coronavirus pandemic in May last year, it promised one thing: to “build back better”. But national recovery plans show a gap between what EU countries are willing to do and what the Commission aimed for.
Recovery plans fall short of EU green spending goals, campaigners warn
As the European Commission starts endorsing national recovery plans submitted by EU countries, campaigners are growing concerned that the EU executive may not fully enforce the fund's green spending target.
Portugal investors demand bank bond money back or will boycott European fund
A group of international institutional investors coordinated by the Attestor Capital fund, on the hook for €2 billion in the Banco Espírito Santo case, want the European Commission to settle the case, warning that otherwise, they will not fund the post-pandemic economic recovery.
EU’s building renovation wave hits administrative snag
Differing views within the European Commission on how the EU's unprecedented recovery fund can be spent, and a rush to translate national spending plans from their original language, risk slowing down the EU's building renovation wave, experts say.
Romania commits to phase out coal by 2032
Romania will exit coal by 2032 at the latest and pass a law by mid-2022 to address the closure of mines and adopt socio-economic measures to support coal communities and reskilling of worers, according to the country's official recovery plan.
EU Commission to borrow €80bn in 2021 to finance recovery
The European Commission is set to borrow about €80 billion ($97.76 billion) this year in long-term bonds to finance the European Union's plan for economic revival after the pandemic, the EU executive said on Tuesday (1 June).
EU to kick off pandemic plan with €10bn bond issue: French minister
The European Union plans to kick off its €750 billion pandemic recovery package with an initial €10 billion bond issue, France's junior minister for European affairs, Clément Beaune, said on Monday (31 May).
EU’s COVID recovery fund gets unanimous green light
The national parliaments of Austria and Poland approved Europe's huge post-virus coronavirus recovery fund on Thursday (27 May), the last of the 27 EU member states, paving the way for ratification.
Pressure mounts on member states to ensure successful roll-out of recovery fund
As the EU recovery fund slowly nears its implementation phase, member states’ absorption capacity and control mechanisms are considered among of the main challenges for its successful roll-out.
Regions warn of bottleneck risks, double spending with EU recovery funds
Implementing the EU's €750 billion recovery plan in addition to regular regional spending at European level is likely to prove a challenge, the bloc's politicians admitted at an informal meeting of EU cohesion ministers in Lisbon on Tuesday (18 May).
European recovery gains speed as COVID-19 fund kicks in
Europe's economic recovery from the impact of COVID-19 is gaining momentum, the European Commission concluded in an economic forecast presented on Wednesday (12 May), with the rebound credited to the recovery fund, vaccines, global trade and the lifting of lockdowns.