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The ancient Roman Agora in Athens illuminated with a Next Generation EU sign
Next Generation EU (NGEU) is a European Commission economic recovery package to support the EU member states to recover from the COVID-19 pandemic, in particular those that have been particularly hard hit. It is sometimes styled NextGenerationEU and Next Gen EU, and also called the European Union Recovery Instrument.[1] Agreed in principle by the European Council on 21 July 2020 and adopted on 14 December 2020, the instrument is worth €750 billion. NGEU will operate from 2021 to 2026,[2] and will be tied to the regular 2021–2027 budget of the EU's Multiannual Financial Framework (MFF). The comprehensive NGEU and MFF packages are projected to reach €1824.3 billion.[3]
^"Council Regulation (EU) 2020/2094 of 14 December 2020 establishing a European Union Recovery Instrument to support the recovery in the aftermath of the COVID-19 crisis". EUR-Lex.
^"Recovery plan for Europe". European Commission. Retrieved 5 July 2023.
^Special European Council, 17–21 July 2020 – Main results Retrieved 15 November 2020.
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