Economy - published on 11 November 2020
Source: European Commission Spokesperson’s Service
The European Commission has today welcomed the agreement between the European Parliament and EU Member States in the Council on Europe’s next long-term budget and NextGenerationEU, the temporary
recovery instrument. Once adopted, the package of a total of €1.8 trillion will be the largest package ever financed through the EU budget. It will help rebuild a post-COVID-19 Europe, which will
be greener, more digital, more resilient and better fit for the current and forthcoming challenges.
President Ursula von der Leyen said: “I welcome today’s agreement on our Recovery Plan and the next Multiannual Financial Framework. We now need to move forward with
finalising the agreement on the next long-term budget and NextGenerationEU by the end of the year. Help is needed for citizens and business badly hit by the coronavirus crisis. Our recovery plan
will help us turn the challenge of the pandemic into an opportunity for a recovery led by the green and digital transition.”
European Commissioner Johannes Hahn in charge of the budget, who worked to facilitate the deal since the beginning of the mandate, said: “Today’s agreement will allow to
reinforce specific programmes under the long-term budget for 2021-2027 (including Horizon Europe, Erasmus+, EU4Health). All in all, the EU long-term budget together with NextGenerationEU will
amount to more than €1.8 trillion. It will play an essential role to support the recovery and make sure traditional beneficiaries of EU funds receive the sufficient means to continue
their work during these very challenging times for all.”
A full press release is available online.
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