Recovery fund, how 750 billion will be spent: 10 European programs to finance reforms, green transition, digitalization, social measures and health security in view of future crises

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Investments in the green transition is in the digital, in the health infrastructure and in the laboratories, the projects of research and innovation, in strategic sectors and in value chains essentials in which the European Union aims to be a leader and reduce the addiction from imports. Funds to deal with the social emergency linked to job loss cause coronavirus. A new tool for recapitalize firms in difficulty. But also money for it agricultural development, the tourism and the culture. These are the main axes on which the Commission European imagines to distribute i 750 billion of the fund for the recovery Next Generation Eu proposed Wednesday and on which European leaders will now begin to negotiate. A framework in which the Italian recovery plan outlined by the premier could also fit Giuseppe Conte in the letter al Done: according to the document of the European executive, each country will have to present a “recovery and resilience plan”With its priorities and requests for funding from the EU.

The 750 billion, raised on the market by issuing bonds, should be distributed by granting 500 of them as grants and 250 as loans to finance European programs consistent with the priorities of the Von der Leyen Commission. According to which in addition to “repairing the short-term damage caused by the crisis “it is necessary to use that money to” invest in our future “. The channels identified are three: the first aims to “support member countries for investments and reforms”, the second to restart the European economy by encouraging private investments, the third to “learn the lesson of the crisis”.

The first full-bodied instrument is part of the first pillar, a new one Recovery and resilience facility from 560 billion (310 of grants and 250 of loans) which will offer greater support to the countries most affected by Covid. To access it, a national recovery plan must be presented, based on the priorities identified through the European Semester and in line with the EU priorities on the ‘green’ transition. Investments will be financed in this way to “tackle the economic and social challenges criticism after the crisis, “says the document,” in various areas such as the social, employment, education, research and innovation and health, but also areas related to the business environment such as the public administration and the financial sector “. The Commission will offer “broad technical support to ensure that the funds are used in the best possible way ”

In addition there will be an initiative called React-Eu from 55 billion to be allocated based on the socio-economic impact of the crisis, including the level of unemployment youth. This tool is designed to “fill the gap between early response measures and long-term recovery” e 5 billion will be available already in 2020. According to the Commission proposal, they can be used for existing cohesion programs and for the aid fund for the most deprived. The strengthening of the Just transition fund, the tool designed to finance the transition to a circular and neutral economy on the environment: it would reach 40 billion. Another 15 billion would go to replenish the rural development fund.

The second pillar includes a Solvency support instrument which will mobilize resources to support “healthy” companies but damaged by the lockdown and will be operational as early as 2020 with a budget of 31 billion (which aims to unlock 300 of investments). It will help avoid “serious capital shortages and defaults from otherwise solid companies”. The InvestEu budget will then be increased to 15.3 billionformer Juncker Plan, and a new one will be created Strategic investment facility from 15 billion which aims to generate 150 billion of investments in strategic sectors such as those related to green and digital double transition. It will support projects that should help to “build solid value chains in Europe and increase the autonomy of the single market, while maintaining openness to competition and trade”, ensuring “resources for strategically important companies

The third pillar provides a program, Eu4Health, to strengthen health security with 9.4 billion and prepare for any future crises. Investments in critical infrastructures, equipment, laboratories and tools for surveillance, forecasting and prevention of epidemics will be financed. It will also support the creation of a mechanism to develop and manage relevant products during health crises such as medicines and i vaccines, the active ingredients and medical equipment such as fans, i protection devices, the diagnostic materials. And it will help create a European communication framework covering all phases of the crisis. Finally another 2 billion will arrive for rescEU, the European Civil Protection Mechanism, 94.4 billion for Horizon Europe to devote to health and climate research e 16.5 billion for external action including humanitarian aid. They will be used to support other countries, in particular in the Balkans and Africa, in their efforts to fight the impact of the pandemic, in cooperation with the UN and WHO.

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