The EU long-term budget 2021-2027 together with NextGenerationEU, the temporary instrument designed to boost the recovery, form the largest stimulus package ever financed through the EU budget, of €1.8 trillion.
With €1.074 trillion under the multiannual financial framework (MFF) for 2021-2027 and €750 billion under NexGenerationEU, the EU will support citizens, companies and regions most affected by the corona crisis.
The package will also help rebuild a post-COVID-19 Europe, which will be greener, more digital, more resilient and better fit for the current and forthcoming challenges.
The last step of the adoption of the next long-term EU budget was made on 17 December 2020, exactly 960 days after the European Commission put forward its initial proposal back in May 2018. As a result, the funds under the MFF have become available for beneficiaries of EU funding during the next seven years, as of 1 January 2021.
For NextGenerationEU to become operational, the European Commission needs to have the legal possibility to borrow on the markets and distribute the amounts where needed the most. To that end, EU Member States still need to ratify the Own Resources Decision in line with their constitutional requirements.
The Commission relies on their commitment to proceed as quickly as possible, in the interest of all EU citizens.
* Size of 2021-2027 long-term budget and Next Generation EU as per the July 2020 European Council compromise.
The following tables provide the breakdown of national allocations stemming from the European Council conclusions of July 2020 for the funds under the ceilings of the 2021-2027 Multiannual Financial Framework for:
- the total Cohesion Policy,
- for Direct Payments under the European Agricultural Guarantee Fund, and
- the European Agricultural Fund for Rural Development.
Resources not directly allocated to Member States are shown separately, such as the interregional innovation investments and European Urban Initiative under the ERDF, the interregional component of Interreg, the transnational cooperation under the ESF+ and technical assistance for the Commission under ERDF, Cohesion Fund, ESF+, and the European Agricultural Fund for Rural Development.
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
- 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
- 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: