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{{Politics of the European Union}}
The '''Next Generation EU''' ('''NGEU''', also called the '''European Union Recovery Instrument'''<ref>[https://eur-lex.europa.eu/eli/reg/2020/2094/oj|Council Regulation (EU) fund2020/2094 of 14 December 2020 establishing a European Union Recovery Instrument to support the recovery in the aftermath of the COVID-19 crisis]</ref>) is a [[European Union]] economic recovery package to support the EU member states adverselyto impactedrecover byfrom the [[COVID-19 pandemic]], in particular those that have been particularly hard hit. Agreed toin principle by the [[European Council]] on 21 July 2020 and adopted on 14 December 2020, the fundinstrument is worth {{Euro|750 billion|link=yes}}. The NGEU fund will operate from 2021–20232021–2026, and will be tied to the regular [[Multiannual Financial Framework#2021–2027 Financial Framework and recovery package|2021–2027 budget of the EU's Multiannual Financial Framework]] (MFF). The comprehensive NGEU and MFF packages are projected to reach €1824.3 billion.<ref>[https://www.consilium.europa.eu/en/meetings/european-council/2020/07/17-21/ Special European Council, 17–21 July 2020 – Main results] Retrieved 15 November 2020.</ref>
==Background==
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