COVID-19: the EU's response to the economic fallout
May 13, 2022
The EU and its member states have taken action to minimise the fallout on the economy of the COVID-19 pandemic.
On this page you can learn more about the concrete measures the EU is taking to support the economic recovery:
- the EU's recovery plan, Next Generation EU
- SURE: temporary support for workers
- amendments to the EU budget to address urgent issues
- re-direction of EU funds to help member states most in need
- support to most affected sectors
A recovery plan for Europe
On 23 April 2020, EU leaders decided to work towards establishing an EU recovery fund aimed at mitigating the effects of the crisis. They tasked the European Commission to urgently come up with a proposal, which would also clarify the link between the fund and the EU's long term budget. The proposal, a recovery plan for Europe, was presented by the European Commission on 27 May 2020.
On 21 July 2020, EU leaders agreed on a €750 billion recovery effort, Next Generation EU, to help the EU tackle the crisis caused by the pandemic.
Alongside the recovery package, EU leaders agreed on a €1 074.3 billion long-term EU budget for 2021-2027. Among others, the budget will support investment in the digital and green transitions and resilience.
Together with the €540 billion of funds already in place for the three safety nets (for workers, for businesses and for member states), the overall EU's recovery package amounts to €2 364.3 billion.
The European Parliament and the Council reached a preliminary agreement on the package on 10 November 2020. The European Council on 10-11 December 2020 addressed the concerns raised on the agreement and cleared the path for the recovery package to be adopted.
If you want to look throught the full infographic, please click the link:
https://www.consilium.europa.eu/en/infographics/recovery-plan-mff-2021-2027/
LATEST
May 16, 2026
EU's traditional EuroVillage event to be held in Azerbaijan's Ganja this year
News
The European Union's (EU) traditional EuroVillage event will be held in the city of Ganja in June of this year, EU Ambassador to Azerbaijan Marijana Kujundžić announced at an event held on the occasion of Europe Day.
May 06, 2026
Azerbaijan, EU explore cooperation
News
On May 5, Jeyhun Bayramov, Azerbaijan’s Minister of Foreign Affairs, met with Kaja Kallas, High Representative of the European Union for Foreign Affairs and Security Policy and Vice-President of the European Commission.
Apr 28, 2026
Azerbaijan-Czechia business forum held in Gabala
News
On April 27, an Azerbaijan-Czechia business forum was held in Gabala with the participation of President of the Republic of Azerbaijan Ilham Aliyev and Prime Minister of the Czech Republic Andrej Babiš.
Apr 24, 2026
Several documents signed as part of Azerbaijan-Latvia business forum
News
As part of the Azerbaijan–Latvia business forum, Memorandums of Understanding were signed between AZPROMO and the Latvian Chamber of Commerce and Industry, as well as “Caspian Energy Club International” LLC and “Power House Latvia” LCC.
Apr 20, 2026
Latvia engaged in fostering practical cooperation between Azerbaijan and EU - FM (Exclusive interview)
News
Latvia is engaged in fostering practical cooperation between Azerbaijan and the European Union (EU), Minister of Foreign Affairs of Latvia, Baiba Braže said in an exclusive interview
Apr 17, 2026
Azerbaijan, EU mull resuming negotiations on new bilateral agreement
News
On April 16, a meeting between delegations from Azerbaijan and the European Union took place in Brussels to resume negotiations on a new bilateral agreement and hold further discussions on the Partnership Priorities document
Apr 09, 2026
Azerbaijan Introduces I-REC(E) Mechanism – A New Milestone in Renewable Energy Certification
News
Azerbaijan has taken a significant step towards advancing its renewable energy sector and achieving its decarbonisation targets by introducing the International Renewable Energy Certificate system – I-REC(E).
Mar 12, 2026
EU deepens energy, security ties with Azerbaijan amid post-conflict challenges
News
The EU seeks to deepen deepen cooperation with Azerbaijan on energy, transport and security after European Council President António Costa met President Ilham Aliyev in Baku on 11 March 2026.
Mar 04, 2026
Baku hosts EU-Azerbaijan Green Connectivity Investment Roundtable
News
In parallel with Southern Gas Corridor Advisory Council 12th Ministerial Meeting and Green Energy Advisory Council 4th Ministerial Meeting, the EU-Azerbaijan Green Connectivity Investment Roundtable was organized in Baku.
Mar 02, 2026
EU Ministers are coming to Baku
News
On March 3, the 12th Ministerial Meeting of the Southern Gas Corridor Advisory Council and the 4th Ministerial Meeting of the Green Energy Advisory Council will be held in Baku.
Feb 14, 2026
EU to provide €5 million for municipal projects in Azerbaijan
News
Within the framework of the European Unions (EU) Covenant of Mayors for Climate and Energy, €5 million worth of projects will be implemented for municipalities in Azerbaijan,
Feb 13, 2026
Nakhchivan spotlighted as key hub in EU-Azerbaijan partnership
News
A delegation led by the European Union (EU) Ambassador to Azerbaijan Marijana Kujundžić visited the Nakhchivan Autonomous Republic, underscoring the growing partnership between Azerbaijan and the EU.
