The European Court of Auditors (ECA) is set to publish its special report on the EU’s €650bn Recovery and Resilience Facility (RRF) by the afternoon of Monday 27 October.
The RRF was established in 2021 to deliver support in the wake of the Covid pandemic. EU member states had to commit to a “set of investments and reforms aimed at fostering sustainable economic recovery and resilience in key areas,” the ECA notes.
“These measures had to address structural challenges identified in the country-specific recommendations (CSRs) issued by the Council of the EU, which included promoting private investment, simplifying tax systems, and reducing administrative burdens. These types of issue affect the creation, development and operation of companies, a process known as the business environment.”
The pending report is based on ECA auditors examining “whether and to what extent the RRF measures contributed effectively to addressing the business environment CSRs.”
Particular attention has been paid to the reforms that were intended for implementation in member states Bulgaria, Spain, Cyprus and Austria.
The RFF was intended to impact in key areas such as:
- Green transition – including investments in renewable energy, energy efficiency, sustainable transport and hydrogen technology
- Digital transformation – including investments in digital infrastructure
- Sustainable growth – including funding for research, development and innovation, and boosting SME competitiveness
- Health resilience – including investments in healthcare systems
