The implementation of the Recovery and Resilience Facility (RRF), at the heart of the EU's recovery instrument NextGenerationEU, is speeding up, fostering continuous reform and investment progress in Member States. As shown in the Commission's third Annual Report on the RRF adopted today, the Commission is supporting Member States in the full and timely delivery of their plans through more streamlined processes, and has further improved both transparency and mechanisms to protect the EU financial interests.

The RRF, with €650 billion in grants and loans, is a critical driver of ambitious investments and reforms across Member States, in initiatives that advance the green and digital transition, and strengthen the resilience and competitiveness of the EU.

Since its inception, the RRF has driven over €82 billion in investments directly supporting businesses. Over 900 reforms are being delivered to cut red tape and speed up business processes to obtain permits and licenses for example, helping EU industry become more competitive. With RRF support, 34 million megawatts hours in energy consumption have been saved, over 11.8 million people have participated in education and training, and 9.8 million people benefitted from protection measures against climate-related disasters.