The Recovery and Resilience Facility: Can effective oversight bring about true reform?
WATCH THE RECORDING HERE
Member States are in the process of submitting their recovery and resilience plans that set out a coherent package of reforms and public investment projects. To support them in their emergence from the COVID-19 pandemic, the European Commission presented its plan for a more resilient European economy: the Recovery and Resilience Facility (RRF). This key instrument, at the heart of NextGenerationEU, is expected to mitigate the economic and social impact of COVID-19.
Because of its magnitude (€672.5 billion), rapid deployment (6 years) and innovative financing and implementation mechanisms, the RRF will pose significant new challenges to the EU and Member States, namely in terms of oversight and fraud prevention and control. It also raises important questions about how far conditionality should go and whether such large amounts of money will contribute to true reform.
How will the funds be used? How to ensure that they will be implemented in a transparent way? Join this EURACTIV Virtual Conference to discuss the economic and social reforms needed for the EU to overcome the crisis. Questions to be discussed:
- How can the RRF result in fundamental reform?
- What measures are in place to prevent fraud in the RRF? Will urgency in deployment result in weaker budgetary control? What is the best system for effective oversight?
- How can the RRF 're-balance' the EU´s cohesion, further to the COVID crisis increasing the gap between countries?
- What are the best approaches to RRF implementation? How strictly should conditionality be imposed?
WATCH THE RECORDING HERE
Luc Tholoniat, Director for the Economies of the Member States, DG Economic and Financial Affairs, European Commission
Nathalie Berger, Director Support to Member State Reforms, DG for Structural Reform Support (REFORM), European Commission
Ivana Maletic, Member of Chamber IV Regulation of markets and competitive economy, European Court of Auditors
Eulalia Rubio, Senior Research Fellow Jacques Delors Institute
Ana Costillas, Spokesperson, Recover Portugal
Jennifer Baker, Journalist, EURACTIV
09:30 – 09:35 Welcome
09:35 – 09:45 Panellist statements
09:45 – 10:40 Discussion and Q&A
10:40 – 10:45 Closing statements
+32 (0)2 788 36 86
COVID recovery money comes with strings attached, say EU officials
Tough control mechanisms will allow the EU to claw back misspent funds from the bloc’s ambitious Recovery and Resilience Facility (RRF), EU officials said at an event organised by EURACTIV on Tuesday (25 May).