The Recovery and Resilience Facility (RRF) is the key instrument at the heart of NextGenerationEU to help the EU emerge stronger and more resilient from the current crisis.
The RRF will make €672.5 billion in loans and grants available to support reforms and investments undertaken by Member States. The aim is to mitigate the economic and social impact of the coronavirus pandemic and make European economies and societies more sustainable, resilient and better prepared for the challenges and opportunities of the green and digital transitions.
Ireland is expected to receive €853 million in grants under the Facility in 2021 and 2022. A further set of grants is to be allocated in 2023, taking into account economic developments between now and then.
Member States will prepare Recovery and Resilience Plans (RRPs) that set out a coherent package of reforms and public investment projects. The RRFs specific objective is to provide financial support to MS towards achieving the milestones and targets of reforms and investments as set out in their RRPs.
The Commission strongly encourages MS to put forward investment and reform plans towards the 7 European Flagship projects as follows:
|Clean Technologies and Renewables||Support the building and sector integration of almost 40% of the 500 GW of renewable power generation needed by 2030, support the installment of 6 GW of electrolyser capacity and the production and transportation of 1 million tonnes of renewable hydrogen across the EU by 2025.|
|Renovate||Energy Efficiency of Buildings||By 2025, contribute to the doubling of the renovation rate and the fostering of deep renovation.|
|Recharge and refuel||sustainable transport and charging stations||By 2025, aim to build one out of the three million charging points needed in 2030 and half of the 1000 hydrogen stations needed.|
|Connect||Roll-out of rapid broadband services||Ensure that by 2025 there is the widest possible uninterrupted 5G coverage for all areas.|
|Modernise||Digitalisation of Public Services||By 2025, ensure the provision of a European digital identity (e-ID) and public administrations should be providing interoperable, personalised and user-friendly digital public services.|
|Scale-up||Data Cloud Capacities and Sustainable Processors||By 2025, double the production of semiconductors in Europe, to produce 10 times more energy-efficient processors and to double the share of EU companies using advanced cloud services and big data (from 16% today)|
|Reskill and upskill||Education and Training to Support Digital Skills||By 2025, the share of Europeans aged from 16 to 74 with basic digital skills should increase to reach 70%. Education systems needs to be further adapted to the challenges of the 21st century. MS should ensure that pupils’ digital competence is significantly improved, in order to reduce the share of 13-14 year-old students who underperform in computer and information literacy to under 15%. By 2025, at least four in five VET graduates should be employed and three in five should benefit from on-the-job-training.|
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.