The European Commission has created an exceptional temporary budget called Next Generation EU (NGEU), which is geared at driving forward the economy's recovery and its transformation by speeding up its adjustment to decarbonisation and digitalisation.
This programme combines structural reforms with public and private investment to help the European economy overcome the economic and health crises. In fact, the lessons learnt from the last crisis underlie these funds' philosophy, which are intended to strengthen the European Union's resilience and technological capabilities through substantial investments in artificial intelligence, cloud computing, 5G or cybersecurity.
NGEU will mobilise up to €750 billion between 2021 and 2026 and will fund Member States through loan lines and subsidies (€360 billion and €390 billion respectively).