The European Commission has released the strategic guidance for the implementation of the Recovery and Resilience Facility in its 2021 Annual Sustainable Growth Strategy (ASGS). The facility is the key recovery instrument at the centre of NextGenerationEU, providing €672.5 billion in financial support for the first years of recovery.

The publication of the ASGS launches this year's European Semester Cycle, which continues on from the last with its focus on the European Green Deal and competitive sustainability. 

Member States can benefit from the facility by submitting their draft recovery and resilience plans, outlining their plans for national investment, economic growth potential and social resilience, as well as their focus on the green and digital transitions. 

The plans should:

• Power up
• Renovate
• Recharge and refuel
• Connect
• Modernise
• Scale-uo
• Reskill and upskill.

The Commission hopes the European Parliament and Council will agree quickly and the facility can become operation from 1 January 2021. The deadline for submissions is 30 April 2021, though preliminary plans are encouraged to be submitted by 15 October 2020. 

Learn more about NextGenerationEU and the Recovery and Resilience Facility here.