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Investing in Europe’s recovery: forging the future
The EU’s NextGenerationEU recovery instrument sets out an out an ambitious fiscal stimulus package to build the European society of tomorrow. As this funding begins to trickle down to Member State level, AmCham EU remains ready to play our part. Our vision brings together the expertise of all sectors in trying to find solutions to the current crisis. Out of a very difficult situation also lies the opportunity to build the Europe of tomorrow.
Check out our contribution in the areas of the Green Deal, the digital landscape, healthcare, trade and the Single Market.
Forging Europe’s recovery together
In order to overcome the challenges brought by the COVID-19 pandemic, the EU must balance the multifaceted aspects of economic recovery. For this, the European Commission developed the NextGenerationEU recovery instrument. To ensure Europe’s revival, Member States must use it to invest in a fair and inclusive recovery, foster international cooperation and develop sustainable and resilient health systems - all while promoting the twin transitions of environmental protection and digitalisation. As a way to support policymakers, we have outlined some key recommendations on how to strengthen the EU’s cross-sectoral recovery. In these videos you can learn how the EU’s economy can recover sustainably by:
How has the EU responded?
On Wednesday, 27 May 2020, in response to the unprecedented crisis caused by the coronavirus, the European Commission proposed the temporary recovery instrument NextGenerationEU of €750 billion, as well as targeted reinforcements to the long-term EU budget for 2021-2027. The recovery package, intended to support investment in the green and digital transitions, was agreed upon during the European Council summit on 10-11 December, 2020 with the Council formally adopting the Regulation establishing the Recovery and Resilience Facility (RRF) on Thursday, 11 February 2021. National governments began submitting their recovery plans in April and May of 2021, outlining clear milestones and targets for recovery funding. The Commission has now begun approving these recovery plans, giving the Council four weeks to adopt each plan via implementing decision.
As of Monday, 22 November 2021, the European Commission has approved the twenty-two following national recovery and resilience plans:
Austria, Belgium, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Portugal, Romania, Slovakia, Slovenia, Spain.
Find out more about our response to the recovery plan
The COVID-19 pandemic continues to present an unprecedented challenge, and as the crisis evolves, new challenges emerge. There is a tough balancing act ahead of us, which requires management of the short-term economic impact of the health emergency, while laying the foundations for what is coming next. AmCham EU is here to support policy-makers during the entire recovery phase. We prepared sector-by-sector short-term recommendations for the recovery phase that include measures on healthcare, safety of work, fiscal stimulus, the Single Market, and fostering the right digital environment. Read them here.
Europe’s industry must focus on the post-carbon economy and rely on a digitally-literate workforce.
The way our planet will look tomorrow will depend on how we will strike the right balance between economic recovery and environmental protection.
Europe must harness the transformative powers of the digital revolution.
Investment in sustainable health systems and innovation brings value to European citizens and the economy, building resilience and preparedness for potential future health crises.
Trade and investment are the engine of global growth. They bring significant benefits to consumers and businesses in Europe, the US and around the world.
The EU should increase funding in key areas such as human capital, research and innovation, environmental sustainability, deployment of digital technologies, modern infrastructure and best-in-class public procurement.