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REPORT (2024/2085(INI))

On the implementation of the Recovery and Resilience Facility

A-10-2025-0098

Committee on Budgets Committee on Economic and Monetary Affairs · Rapporteur: Victor Negrescu, Siegfried Mureşan

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This resolution assesses the Recovery and Resilience Facility (RRF), noting progress and shortcomings, and calls for improvements in implementation, transparency, and future design. It highlights the RRF's role in economic recovery and cohesion, but expresses concerns about delays, administrative burden, and risks of double funding. It urges the Council to adopt new own resources to ensure debt repayment and calls for an 18-month extension of mature projects if needed. It demands better stakeholder involvement, enhanced transparency, and lessons for future performance-based instruments.

Committee position. The Committee on Budgets and the Committee on Economic and Monetary Affairs propose a resolution that assesses RRF implementation, calls for improvements, and sets out lessons for future instruments.

Key points

  1. Highlights the RRF as an unprecedented solidarity instrument ending in 2026, stressing the need to draw lessons for the next MFF.
  2. Notes that the RRF has prevented fragmentation of the internal market and supported cohesion, but warns of a decline in public investment after 2026.
  3. Calls for upholding additionality and avoiding substitution of national expenditure, and for assessing the RRF's impact on cohesion policy.
  4. Welcomes REPowerEU's additional grants and cross-border targets, but regrets the shortage of viable cross-border measures.
  5. Notes that only 13 Member States requested loans, leaving EUR 92 billion unused, and calls for analysis and possible redirection of funds.
  6. Urges the Council to adopt new own resources without delay to ensure NGEU debt repayment by 2058.
  7. Calls for accelerating implementation, addressing administrative bottlenecks, and ensuring fair regional distribution of funds.
  8. Calls for an 18-month extension of mature RRF projects if needed, and for a strategy to address public investment demand beyond 2026.
  9. Demands enhanced transparency, including regular publication of lists of largest final recipients and a common definition of 'final recipient'.
  10. Calls for strengthening audit and control systems, addressing double funding risks, and ensuring compliance with EU rules.
  11. Regrets insufficient involvement of local and regional authorities and stakeholders in NRRP design and implementation.
  12. Urges the Commission to apply lessons learned and ECA observations to future performance-based instruments, ensuring they measure long-term impacts.

Who is affected

  • Member States implementing national recovery and resilience plans, which face calls to accelerate reforms and investments.
  • Local and regional authorities, civil society, and social partners, who should be more involved in NRRP design and implementation.
  • Small and medium-sized enterprises and young entrepreneurs, who need simpler application procedures and targeted support.
  • The Commission, which is urged to improve transparency, accelerate assessments, and ensure equal treatment of Member States.
  • The Council, which is urged to adopt new own resources to ensure debt repayment.

Figures and deadlines

  • EUR 197.46 billion in grants (55% of total) and EUR 108.68 billion in loans (37%) disbursed by 31 December 2024.
  • EUR 92 billion of EUR 385.8 billion in loans remained unused.
  • Total NGEU capital interest repayments projected at EUR 25 to 30 billion per year from 2028.
  • EUR 68.2 billion in European green bonds issued by 31 December 2024.
  • 47% of available RRF funds disbursed by 31 December 2024.
  • Average expenditure towards climate and digital objectives at 42% and 26% respectively.
  • EUR 163 billion planned for social objectives and EUR 166 billion for digital transformation.
  • 307 active EPPO cases related to the RRF in 2024, with estimated damage of EUR 2.8 billion.

Legal basis: Article 175 of the Treaty on the Functioning of the European Union