![@European Union, 2020](../../sites/default/files/styles/newsroom/public/news/p044199-686992.jpg%3Fitok=AGYHXni1)
The European Commission has welcomed the agreement between the European Parliament and EU Member States in the Council meeting on Europe's next long-term budget and NextGenerationEU, the temporary recovery instrument. Existing policies such as cohesion and common agricultural policy also continue to receive significant financial support to contribute to the recovery and the green and digital transitions.
Read more about the agreement, next steps and background documents in the press release.