The European Commission has developed the Next Generation EU framework to assign its financial support to Member States, with dedicated lines on the EU's long-term inclusivity, even financial attribution and greener transition.
The new recovery instrument of €750 billion aims to boost the EU budget with new financing raised on the financial markets for 2021-2024. The Centrepiece of the Next Generation EU is the Recovery and Resilience Facility (RRF).
For the next EU long-term budget, the Commission has proposed that at least 25% of EU expenditure should contribute to climate action during the 2021-27 period. This commitment reiterates in the European Green Deal communication of 11 December 2019, reflecting the long-term ambition of the EU to achieve climate neutrality by 2050.