The second way in which Europe’s capacity to adapt has been strengthened is through the dedicated budgetary response at the EU level – the Next Generation EU (NGEU) fund. While temporary, the EU now has an ideal tool in place to support the transition towards the sectors and activities of the future.
Around 40 percent of these European funds will be spent on investing in the green transition and 20 percent on digitalisation. And these funds will only be disbursed in return for growth-enhancing reforms approved by the European Commission. This ensures that we will have an effective regulatory environment to make the most of this investment.