# NextGenerationEU and common EU recovery borrowing

Next Generation EU (NGEU) is a European Commission economic recovery package to support the EU member states to recover from the [COVID-19 pandemic](/drivers/covid-19-pandemic), in particular those that have been particularly hard hit. It is sometimes styled NextGenerationEU and Next Gen EU, and also called the European Union Recovery Instrument. Agreed in principle by the European Council on 21 July 2020 and adopted on 14 December 2020, the instrument is worth €750 billion roughly equally split between grants and loans.

## Dated facts

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## Methodology

https://factrail.ai/methodology

Canonical: https://factrail.ai/drivers/nextgenerationeu-and-common-eu-recovery-borrowing