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European Recovery Fund
To alleviate the economic and social consequences of the COVID-19 crisis, the European Union has set up a recovery fund within NextGenerationEU: the Recovery and Resilience Facility (RRF)(opens in new window). This fund allows for grants and loans to be provided to Member States, which are required to submit a National Recovery and Resilience Plan (NRRP) to that end. NextGenerationEU(opens in new window) provides direct support and loans to Member States.