INTIEAEuropean Union · EU Long-term budget (2021-27) - Next Generation EUPolicyIn force

EU Long-term budget (2021-27) - Next Generation EU

The European Commission has developed the Next Generation EU framework to assign its financial support to Member States, with dedicated lines on the EU's long-term inclusivity, even financial attribution and greener transition. The new recovery instrument of €750 billion aims…

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EffectiveJan 01, 2021
Last changeApr 24, 2025

Country / jurisdiction: European Union · Year: 2021 · Status: In force · Level: International · Type: Voluntary

The European Commission has developed the Next Generation EU framework to assign its financial support to Member States, with dedicated lines on the EU's long-term inclusivity, even financial attribution and greener transition.

The new recovery instrument of €750 billion aims to boost the EU budget with new financing raised on the financial markets for 2021-2024. The Centrepiece of the Next Generation EU is the Recovery and Resilience Facility (RRF).

For the next EU long-term budget, the Commission has proposed that at least 25% of EU expenditure should contribute to climate action during the 2021-27 period. This commitment reiterates in the European Green Deal communication of 11 December 2019, reflecting the long-term ambition of the EU to achieve climate neutrality by 2050.

Official source: https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:52020DC0456&from=EN

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https://www.iea.org/policies/11999

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