EU recovery fund – level 2

08-04-2024 15:00

The EU made a plan called the RR to help countries after COVID-19. They gave 723 billion euros for it.

The RRF gives money to countries as grants or loans. Grants help with green and digital projects and loans help with recovery. But the RRF will end in 2026. It works together with other EU plans.

COVID-19 hurt some businesses a lot. Especially those where personal contact is important, like tourism and shops. Small businesses had problems like late payments and not enough things to sell. Some people lost jobs, especially those with less education. The RRF tries to help EU countries and people after COVID-19.

Difficult words: grant (money which a company or person gets for free), loan (money which someone lends to someone else), recovery (when things return to a normal state).

You can watch the original video in the Level 3 section.

What types of businesses and individuals are being targeted for assistance through the RRF and what specific ways is it providing aid after COVID-19?


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