The Recovery and Resilience Facility (RRF) is a temporary instrument, launched in 2021, to help the EU emerge stronger and more resilient from the coronavirus pandemic and increase the resilience of the national economies. Through the RRF, the Commission raises funds by borrowing on the capital markets, issuing bonds on behalf of the EU, which are then available to EU countries for their implementation of ambitious reforms and investments that
- make their economies and societies more sustainable, resilient and prepared for the green and digital transitions
- address the challenges identified in country-specific recommendations under the European Semester framework of economic and social policy coordination
According to the Commission’s mid-term evaluation of the RRF, it helped saving over 28 million megawatt hours (MWh) in energy consumption by the end of 2023.
National Recovery and Resiliency Plans 2023
The Council approved 13 amended Recovery and Resiliency Plans (RRPs) on 8 December 2023, following their endorsement by the Commission. Most of the amended plans include a new REPowerEU chapter, which will contribute to accelerating the countries' transition towards clean energy, diversifying their energy supplies and improving their energy efficiency.
All EU countries have exceeded the target of 37% focus on the green transition in their plans, with some countries’ plans dedicating over 50% to climate objectives. Through the REPowerEU chapters, a further €60 billion in RRF funds will be dedicated to the green transition.