2020 European Union recovery plan

The 2020 EU recovery plan, called NextGenerationEU, is a large fund designed to help European countries recover from the economic impact of the COVID-19 pandemic. It provides approximately €750 billion through grants and loans to support health, green energy, digital transformation, and job creation. The goal is to rebuild economies more resilient, sustainable, and prepared for future challenges. Member states submit recovery plans outlining how they will use the funds, which are then approved and disbursed, fostering economic growth and social cohesion across the EU.