Next Generation EU
The EU’s long-term budget, coupled with NextGenerationEU (NGEU), the temporary instrument designed to boost the recovery, will be the largest stimulus package ever financed in Europe. A total of €2.018 trillion in current prices will help rebuild a post-COVID-19 Europe. It will be a greener, more digital and more resilient Europe. The last step of the adoption of the next long-term EU budget was reached on 17 December 2020.
More than 50% of the total amount of the next long-term budget and NextGenerationEU will support the modernisation of the European Union through research and innovation, fair climate and digital transitions, preparedness, recovery and resilience. 30% of the EU budget will be spent to fight climate change. The package also pays specific attention to biodiversity protection and gender-related issues. 20% of NextGenerationEU will be invested in the digital transformation. In 2026 and 2027, 10% of the annual spending under the long-term budget will contribute to halting and reversing the decline of biodiversity.