What are european next generation funds

Face with the threat of seeing the future of citizens and the economy of countries compromise as a result of the covid-19 pandemic, the council of the european union took a series of relevant measures. Among them, the approval, in july 2020, of a temporary recovery instrument known as next generation european funds . Certainly, the effects of the pandemic on the economy, productivity and employment are still being felt globally. It is no secret that this circumstance continues to have a greater impact on sectors such as micro , small and medium-size businesses . This not only reduces productivity and profitability, but also hinders the digitalization of processes and tasks in said segment. Likewise, it negatively affects initiatives such as the fight against climate change and the expansion of renewable energies to reduce dependence on fossil fuels.

With an available budget

The next generation european funds constitute the eu ‘s coordinate response to face the economic and social consequences of the pandemic . What are the european next generation funds? Although they are Indonesia Telegram Number Data define as a temporary recovery instrument , the next generation european funds arise from the need to build the europe of the future. In this perspective, more than an amount available to counteract the consequences of the crisis, it is a large-scale project. Its objectives are to overcome the current situation and guarantee a more sustainable, digital and resilient europe for new generations. Base on the above, the channeling of the available amount will be carrie out through the eu long-term budget . In particular, most of this process will take place during the period 2021-2023. For these purposes, the next generation european funds will be distribute among the member states and eu beneficiaries.

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The modalities to be used will be subsidies

Investment programs of the european next generation funds the monetary resources allocat to the next generation european funds will be investe in seven programs: recovery and resilience mechanism (rrm): how do eu states access the european next generation funds? As we said, the majority of the european next generation funds will be invest through the recovery and Belarus Telegram Number List resilience facility (rrf). In essence, the purpose of the mrr is to offer financial support that favors public investments in areas link to ecological and digital transformation projects , among others. Specifically, resources for mrr grants will be award between eu countries according to various allocation criteria. That is, it will take into account: the size of the population, the gross domestic product (gdp) per capita, unemployment indicators and the impact of the covid-19 pandemic.


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