On 1 March 2022, the Commission published its first annual report on the Recovery and Resilience Facility (RRF). The RRF is providing up to €723.8 billion (in current prices) of grants and loans to Member States to support transformative investments and reforms that boost the EU’s economy after the COVID-19 crisis (→ related link).

The report takes stock of the progress made since the establishment of the RRF Regulation in February 2021. It concludes that major advancements have been made and implementation is firmly on its way. The Council adopted 22 recovery and resilience plans, which account for a total of €445 billion. The Commission disbursed €56.6 billion in pre-financing and €10 billion in a first payment in 2021.

The report also includes several examples of the investments and reforms financed by the RRF, which cover the six policy pillars defined in the RRF Regulation, including the European green deal and digital transition.