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The Recovery Plan for Europe, enacted by the Regulation (EU) 2021/241 on the Recovery and Resilience Facility (RRF), sets the EU's budget response to the COVID-19 crisis. It specifies that the recovery should be aligned with climate objectives and targets.Council Regulation (EU) 2020/2094 previously established a European Union Recovery Instrument to support the recovery in the aftermath of the COVID-19 crisis. It took measures to ensure that a just transition to a climate-neutral economy will not be undermined by the COVID-19 crisis. It dedicates up to EUR 10 000 million in 2018 prices for programmes supporting territories in their transition towards a climate-neutral economy (article 2).

This budget document details the investments underpinning the Recovery and Resilience Facility.

The EU budget powering the recovery plan for Europe

Regulation 2021/241 establishes the Recovery and Resilience Facility.

Regulation (EU) 2021/241 of the European Parliament and of the Council of 12 February 2021 establishing the Recovery and Resilience Facility

The European Council adopted conclusions on the recovery plan and multiannual financial framework for 2021-2027 on 21 July 2020.

Special meeting of the European Council (17, 18, 19, 20 and 21 July 2020) – Conclusions

Main document

Timeline

Note

About the Recovery Plan for Europe