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February 10, 2021 With 582 votes in favor, 40 against and 69 abstentions, the European Parliament has given the green light to the regulation of the recovery and resilience facility (Recovery and Resilience Facility).

This is the core of the Next Generation Eu plan which will have 672.5 billion euros available out of a total of 750 billion, to be collected through the largest bond issue in the European Union.

It will also be used to finance investment projects that began on February 1, 2020. The funding will be available for three years and governments can request up to 13% pre-financing for their recovery and resilience plans.

Once the Council has also formally approved the regulation, it will enter into force the day after its publication in the EU Official Journal.



Von der Leyen: "

European Parliament

approved"

"I welcome the vote of the European Parliament on the Recovery device, the heart of Next Generation Eu. While vaccines help us to get out of the health crisis, the tool for recovery and resilience it will bring 672.5 billion euros to support people, businesses and communities to overcome the economic crisis ".

The president of the European Commission, Ursula von der Leyen, wrote in a tweet.


I welcome the @Europarl_EN vote on the Recovery and Facility, the heart of #NextGenerationEU.



While vaccines help us out of the health crisis, the Recovery and Resilience Facility will bring € 672.5 billion to support people, businesses & communities exit the economic crisis.

- Ursula von der Leyen (@vonderleyen) February 10, 2021


Gentiloni: "Historic step, now ahead for all Europeans"

"Today's vote in the European Parliament brings us closer to the entry into force of the recovery and resilience tool. terrible shock of the pandemic, Europe has taken a historic step ".

This was stated by the EU Commissioner for Economy, Paolo Gentiloni, commenting on the approval of the device in the European Parliament.



"We have done something that was unthinkable just a year ago: the creation of a common instrument, financed by the common debt, to achieve a common goal. For several months, the Commission has been working intensively with governments in drafting their recovery and resilience plans. . Now we must all step up our efforts and make sure we take this unique opportunity to change our economies, for the common good of all Europeans, "he added.