Article - Covid-19 recovery: how the main EU instrument will work

Parliament and Council reached a provisional agreement on the instrument in December 2020.

Metadata
Provider: 
ECEC
URL: 
https://www.europarl.europa.eu/news/en/headlines/economy/20210128STO96608/https://www.europarl.europa.eu/news/en/headlines/economy/20210128STO96608/
Retrieved on: 
Thursday, February 4, 2021
Information
Tags: 
Organizations, Articles, United Nations General Assembly, Confederations, European Union, Inflation, Next Generation EU
Summary
Key Points: 
  • Parliament and Council reached a provisional agreement on the instrument in December 2020.
  • It will offer large-scale support to EU countries for the investments and reforms needed to mitigate the economic and social consequences of the pandemic and to prepare the EU economies for a sustainable, digital future.
  • The grants will amount to 312.5 billion in 2018 prices (the actual amount will be adjusted upwards to take account of inflation).
  • EU recovery money will go to EU priorities.
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