See No Evil – How a lack of transparency could dash EU hopes for a green pandemic recovery

In May 2020, the European Council announced it would provide an extraordinary EUR 750 billion in recovery funds to Member States to help facilitate the European Union’s economic recovery after the coronavirus pandemic. It was announced that the largest share of this recovery package, known as NextGenerationEU, would be channeled through the Recovery and Resilience Facility (RRF), providing EUR 671 billion in financial support for reforms and investments in green and digital related areas to ensure a sustainable economic recovery. In this report, EUKI partner CEE Bankwatch examines in how far the recovery funds are in danger of being used as a ‘trojan horse’ for financing unsustainable projects under the pretense that this is necessary for a successful economic recovery.