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.
Member States were required to prepare Recovery and Resilience Plans that set out a coherent package of reforms and public investment projects.
Ireland’s Plan has been developed by the Government, taking into account the requirements for the Recovery and Resilience Facility for a minimum of 37% of expenditure to be on climate and 20% on digital investments and reforms; the need to address investment and reform challenges identified in relevant Country Specific Recommendations made to Ireland by the EU in recent years; and the importance of alignment with national economic and investment plans, in particular the Economic Recovery Plan.
The overall objective of Ireland’s National Recovery and Resilience Plan is to contribute to a sustainable, equitable, green and digital recovery effort, in a manner that complements and supports the Government’s broader recovery efforts.
Ireland’s Plan will do this through a set of 16 investments and 9 reform commitments, to a total value of just under €1 billion, to be supported both by grants from the Recovery and Resilience Facility and national funds.
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