The European Commission has set out strategic guidelines for the functioning of the Mechanism for Recovery and Sustainability (MFA), the main tool for the recovery from the coronavirus crisis, which is the basis of the EU's new budget plan, NextGenerationEU. The guidelines are published in the new Annual Strategy for Sustainable Growth for 2021.
The facility will provide an unprecedented € 672.5 billion in loans and grants in the form of priority funding during the particularly important first years of recovery.
Member States should present their draft recovery and sustainability plans outlining national investment and reforms. These plans should take into account the economic policy challenges set out in the country-specific recommendations of the 2019 and 2020 European Semester cycles.
Today, the Commission also presents additional guidance to Member States on how to best present their recovery and sustainability plans in 7 key areas.