Press Releases EPP Group: Coronavirus Recovery Fund: €672.5 billion comes with conditions

EPP Group: Coronavirus Recovery Fund: €672.5 billion comes with conditions

The approval of the Recovery and Resilience Facility (RRF) today in the plenary of the European Parliament is the last step of the legislative procedure at European level. “To get help from the Recovery Fund, it is now the responsibility of the Member States to swiftly present their final national recovery and resilience plans. The plans have to be future-oriented and must strengthen our economies”, said Siegfried Mureşan MEP, who is the co-lead negotiator of the fund for the European Parliament.

Needs in the 27 Member States are different. This is why the Member States can use the money differently. But they all have to respect the conditions set at European level: money should be used for investments, reforms, for strengthening the economies and making them more resilient to future crises.

“We do not want the Recovery Fund to be used simply to fill in holes in national budgets. The fund is for investments, not for political populism. Our economies have to become greener, cleaner and more digital following this pandemic. For the EPP Group, support for the private sector, industry and infrastructure is essential. All these types of investments can be financed from the RRF”, Mureşan added.

The European Parliament will scrutinise all the national recovery and resilience plans and will make sure that plans fulfil the conditions of the law: “If we see shortcomings, we will not hesitate to ask for improvements. We owe it to the EU citizens to make good use of this unique opportunity”, warned Mureşan.

“With an overall amount of €672.5 billion, the RRF is significant proof of European solidarity. The European Union stands side-by-side with the European citizens to overcome the ongoing health and economic crisis”, stated José Manuel Fernandes MEP, who negotiated the RRF on behalf of the EPP Group in Parliament’s Budgets Committee.

Following today’s vote, the Member States should not waste time: “I urge national parliaments to also approve the changes to the EU system of own resources as soon as possible. The RRF cannot be implemented without it. In the meantime, I call on national governments to put forward their national recovery and resilience plans. These plans shall involve regions and municipalities. There is no green or digital transition without territorial, economic and social cohesion”, Fernandes concluded.

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