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Portugal is set to receive €21.9 billion in grants and loans from the Recovery and Resilience Facility (RRF), the EU response to the crisis triggered by the COVID 19 pandemic. This amount corresponds to 2.9 % of the entire RRF, or 10.2 % of Portugal's 2019 gross domestic product (GDP), and includes RRF grants (€15.5 billion), RRF loans (€5.6 billion), REPowerEU grants (€0.7 billion) and Portugal's share (€0.1 billion) from the Brexit Adjustment Reserve. This is the result of the latest revision of ...

Sweden's national recovery and resilience plan (NRRP) is financed under the EU Recovery and Resilience Facility (RRF). The NRRP's total volume is €3 445.7 million, financed entirely through EU grants. This amount reflects the downward revision of the national RRF envelope in June 2022, and includes €198 million in additional grants under the REPowerEU chapter, as well as a €66 million transfer from the Brexit Adjustment Reserve. The plan represents 0.4 % of the RRF and 0.7 % of the country's gross ...

Croatia's national recovery and resilience plan (NRRP) is an ambitious outline of reforms and investment designed to mitigate the pandemic's socioeconomic fallout and to address the consequences of the two devastating earthquakes of 2020. Following the December 2023 amendment of the Croatian NRRP, to which a REPowerEU chapter was added, the plan's worth reached €10 040.7 million (or 18.5 % of national gross domestic product (GDP) in 2019). The amended plan comes with a grant allocation of €5 779.4 ...

Under the Recovery and Resilience Facility (RRF), Czechia is currently set to receive a total contribution of €8 752.3 million, corresponding to 4.2 % of its 2019 gross domestic product (GDP). This amount consists of €8 409.2 million in grants (including €680.5 million in REPowerEU grants and €54.9 million transferred from the Brexit Adjustment Reserve) and €343.1 million in loans. This total reflects several revisions of Czechia's national recovery and resilience plan (NRRP), which initially amounted ...

Under the Recovery and Resilience Facility (RRF), the EU response to the COVID-19 crisis, Bulgaria is set to receive €6 174.1 million in grants, including €479.3 million under REPowerEU and €6 million from the Brexit Adjustment Reserve. Any additional financing must be covered by national or private co-funding. Bulgaria's national recovery and resilience plan (NRRP) corresponds to 10.1 % of its 2019 gross domestic product (GDP) (the RRF amounts to 5.2 % of EU-27 2019 GDP), the eighth-highest share ...

Slovakia is set to receive €6 408.5 million, solely in grants, to implement its national recovery and resilience plan (NRRP), representing 6.8 % of the country's gross domestic product (GDP) in 2019. That grant allocation includes the revised Recovery and Resilience Facility (RRF) grant allocation (€6 005.8 million), REPowerEU grants (€366.4 million), and a transfer of the country's remaining share from the Brexit Adjustment Reserve (€36.3 million). On 8 May 2025, the European Commission adopted ...

This paper is prepared in view of a regular public hearing with the Chair of the European Systemic Risk Board (ESRB), Christine Lagarde, which will take place on 3 December 2025. It covers the ESRB’s report on crypto-assets and decentralised finance, recent conclusions from the ESRB General Board meeting, the financial sector’s current risk outlook and broader systemic-risk and financial-stability concerns. The paper also analyses the role of money market funds (MMFs), the Commission’s proposed securitisation ...

Ireland's national recovery and resilience plan (NRRP) has the fourth smallest allocation in absolute figures under the Recovery and Resilience Facility (RRF). Following the European Commission's 2022 update of national allocations, the initial €989 million allocation was adjusted to €914.4 million in grants, to be disbursed in five instalments. In 2024, Ireland introduced in its plan a new REPowerEU chapter to accelerate the green transition; this brought Ireland's new total to €1 153.8 million ...

InvestEU is the EU's risk-sharing investment programme to bolster competitiveness. In early 2025, as part of its simplification agenda, the Commission proposed amending the InvestEU Regulation to increase investment capacity, facilitate Member States' contributions to the programme and reduce administrative burdens. In November, Parliament is expected to vote in plenary on the agreement reached with the Council on these amendments, which are expected to unlock at least a further €55 billion in investments ...

The EU is facing the challenge of mobilising massive investments required to meet its strategic priorities and must find effective ways to finance them. In response, the European Commission published the savings and investments union (SIU) action plan on 19 March 2025, designed to channel EU savings into productive investments. This briefing presents an overview of the plan. The SIU was launched in the context of the Draghi and Letta reports, which set out recommendations for strengthening the EU's ...