Council Regulation (EU) 2020/2094Show full title

Article 1 U.K. Subject matter and scope

1. In order to support the recovery in the aftermath of the COVID-19 crisis, this Regulation establishes the European Union Recovery Instrument (the ‘Instrument’).

2. Support under the Instrument shall in particular finance the following measures to tackle the adverse economic consequences of the COVID-19 crisis or the immediate funding needs to avoid a re-emergence of that crisis:

(a) measures to restore employment and job creation;

(b) measures in the form of reforms and investments to reinvigorate the potential for sustainable growth and employment in order to strengthen cohesion among Member States and increase their resilience;

(c) measures for businesses affected by the economic impact of the COVID-19 crisis, in particular measures that benefit small and medium-sized enterprises as well as support for investment in activities that are essential for strengthening sustainable growth in the Union, including direct financial investment in enterprises;

(d) measures for research and innovation in response to the COVID-19 crisis;

(e) measures for increasing the level of the Union’s crisis preparedness and enabling a quick and effective Union response in the event of major emergencies, including measures such as stockpiling of essential supplies and medical equipment and acquiring the necessary infrastructures for rapid crisis response;

(f) measures to ensure that a just transition to a climate-neutral economy will not be undermined by the COVID-19 crisis;

(g) measures to address the impact of the COVID-19 crisis on agriculture and rural development.

3. The measures referred to in paragraph 2 shall be carried out under specific Union programmes and in accordance with the relevant Union acts laying down rules for those programmes whilst fully respecting the objectives of the Instrument. Those measures shall include technical and administrative assistance for their implementation.