On 21 July 2020, the EU leaders reached a historic agreement on the next long-term budget and Next Generation EU.

As a next step, the Commission is sparing no effort to find swiftly a common ground between the Council and the European Parliament so that this agreement can be finalised. This is vital to support the European recovery and resilience and kick off timely the new generation programmes.

In the meantime, the Commission is already preparing the ground for the swift disbursement of the funds. On 17 September 2020, the Commission published guidance and templates for Member States to be able to quickly prepare their recovery and resilience plans. These are necessary for them to have access to proposed €672.5 billion of grants and loans under the Next Generation EU’s main instrument, the Recovery and Resilience facility.

Latest

Press release17 September 2020

NextGenerationEU: Commission presents next steps for €672.5 billion Recovery and Resilience Facility in 2021 Annual Sustainable Growth Strategy

The European Commission has set out strategic guidance for the implementation of the Recovery and Resilience Facility in its 2021 Annual Sustainable Growth Strategy (ASGS).

European Parliament resolution 23 July 2020


European Council conclusions 21 July 2020

MFF 2021-2027 & Next Generation EU

* Size of 2021-2027 long-term budget and Next Generation EU as per the July 2020 European Council compromise.

Commission Proposal May 2020

In May 2020, the Commission has proposed a powerful, modern and revamped long-term EU budget boosted by Next Generation EU, an emergency temporary recovery instrument, to help repair the immediate economic and social damage brought by the coronavirus pandemic, kickstart the recovery and prepare for a better future for the next generation.

This proposal builds on the 2018 Commission’s proposal and on the considerable progress that has already been made in the European Parliament and the Council. To ensure an effective implementation of the Recovery Plan, which reaches out to everybody in the EU and to our global partners, the Commission is mobilising a variety of instruments, organised around three pillars.

The proposed EU budget will power a fair socio-economic recovery, repair and revitalise the Single Market, guarantee a level playing field, and support the urgent investments – in particular in the green and digital transitions – which hold the key to Europe’s future prosperity and resilience.

Unprecedented investments to restore and rebuild Europe

Press material

Press release

Questions and Answers

Questions and Answers related to the MFF proposal and the sectoral programmes presented in May 2020.

Speeches

Speeches by President von der Leyen and European Commissioners on the proposals for the 2021-2027 EU long-term budget and sectoral programmes.

FactsheetMay 2020

MFF Factsheets

Factsheets on the Commission's proposal for the 2021-2027 Multiannual Financial Framework.
FactsheetMay 2020

Sectoral factsheets

Factsheets on the sectoral programmes presented in May 2020 with the Commission's proposal for the 2021-2027 Multiannual Financial Framework.

Documents

May 2020

MFF Legislation

The Commission’s proposal for the 2021-2027 Multiannual Financial Framework and system of Own Resources.
May 2020

Sectoral legislation

The sectoral legislation governing the programmes of the 2021-2027 Multiannual Financial Framework.

Timeline

Next steps:

  • May 2020

    Commission proposal for the revised Multiannual Financial Framework 2014-2020 & 2021-2027 and Own Resources Decision + sectoral legislation

  • By July 2020

    European Council: Political agreement on Multiannual Financial Framework 2014-2020 & 2021-2027 and Own Resources Decision

  • By summer 2020

    European Parliament’s consultation on Own Resources Decision

  • Early autumn 2020

    Adoption of the revised Multiannual Financial Framework 2014-2020 + corresponding sectoral legislation

  • October 2020

    European Council

  • December 2020

    Adoption of the revised Multiannual Financial Framework 2021-2027
    (European Parliament’s consent)

    Adoption of the Own Resources Decision
    (Ratification by all Member States in line with their constitutional requirements)

  • January 2021

    Multiannual Financial Framework 2021-2027 implementation starts

Commission Proposal May 2018

For more information on the Commission's proposal adopted in May 2018, see:

EU budget for the future