The NextGenerationEU ("NGEU")
represents the largest package of economic stimulus measures
launched by the European Union to boost the recovery of the
European economies after the Covid-19 outbreak.
The key instrument of this package is the Recovery and
Resilience Facility ("RRF"), which
involves 750 billion euros –390 billion in grants and 360
billion in loans– aimed at repairing the immediate economic
and social damage brought about by the pandemic, by building a
greener, more digital and more resilient Europe. In this context,
Spain will receive 69.5 billion euros in grants and up to 70
billion euros in loans from the RRF.
The general framework created by the European institutions has
been translated into different national recovery plans, such as the
Spanish "Recovery, Transformation and Resilience Recovery
Plan" (the "Recovery Plan"), which
was approved by the European Council in mid-July.
