Executive Vice-President Fitto

Today, the College of Commissioners adopted the communication on NextGenerationEU – the road to 2026. This marks an important moment to reflect on what the Recovery and Resilience Facility, the centerpiece of NextGenerationEU, has achieved and what still lies ahead.

The RRF was created to respond quickly and effectively to the COVID-19 crisis. It was designed to address significant challenges: safeguarding public investment during economic uncertainty and supporting Member States recovery efforts.

The facility is a success story and shows tangible results. It enabled Member States to act swiftly through pre-financing, cushioning the crisis impact and laying the groundwork for recovery.

The benefits of the RRF extend beyond borders. Due to the deep economic interconnections within the Union, national plans have an amplifying effect across the EU.

One innovative aspect of the RRF is its performance-based nature. Funding is not just about spending, but also about reforms with measurable outcomes. This has led to a more prosperous and resilient Europe.

Combining investments with reforms in a single framework has helped Member States tackle structural challenges, providing benefits for citizens and businesses.

The RRF has contributed to a more prosperous Europe and a more resilient Union. Many reforms are completed, creating favorable conditions for investments.

Key reforms include strengthening institutions, modernizing public administration, and promoting digitalization. Skills, education, and labor market resilience are also addressed.

Challenges remain. Significant progress has been made, but further efforts are needed. Accelerated implementation remains a priority.

Member States have tools to manage ongoing projects. The recent cohesion policy mid-term review encourages the continuation of RRF projects under other EU funds.

Commissioner Dombrovskis will explain how Member States can make the best use of the remaining time until the end of the RRF. The facility is a demonstration of what Europe can achieve in unity.

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Commissioner Dombrovskis

Thank you, Raffaele.

Todays communication evaluates the achievements of the RRF.

With just over a year to go until the August 2026 deadline, it is time to look ahead and focus on what must be done to bring the RRF to a successful conclusion.

The RRF has already had a significant impact.

To give some concrete examples: the installation of additional megawatts of renewable energy and savings in energy consumption.

29 million people have benefited from RRF-supported education and training opportunities.

Today, the Commission provides an overview of actions that Member States can take to implement their recovery plans on time and to the fullest extent.

Firstly, Member States are encouraged to streamline their plans.

Secondly, we provide clear options to amend their plans.

And thirdly, we give guidance for preparing the final payment requests in 2026.

Member States must now review their plans with the August 31, 2026, deadline in mind.

We also invite Member States to simplify their plans.

The goal is to facilitate the implementation and assessment of payment requests.

What options can Member States explore when revising their plans?

They have various options, such as scaling up successful measures and prioritizing grants over loans.

Finally, RRF funds can be used to support capital injections into National Promotional Banks or contribute to future European defense programs.

These alternatives can help the RRF deliver additional benefits for common EU priorities.

We invite co-legislators to consider this possibility in the context of EDIP trilogues.

To conclude, the RRF has already had a transformative impact. But now is the time for a final push. The time to act is now.

Thank you.