On 21 July 2020, the 27 EU heads of state and government reached a deal on the bloc’s next 7-year budget (Multiannual Financial Framework, or MFF) and the new Recovery Instrument, also known as Next Generation EU (NGEU). The latter is a temporary emergency instrument created to jump-start the EU’s recovery, which will complement the MFF by leveraging €750 bn of additional investment that would help Member States implement reforms, create jobs, and promote recovery, whilst supporting the EU’s green and digital transitions.

Click on the link below to download NOVE’s guide exploring and explaining what NGEU will consist of, how the funding will be accessed by Member States, who the key decision-makers are, and what the next steps will be.