How to Benefit from the EU Recovery Plan?
- 05 October 2020
The outbreak of the COVID-19 crisis in Europe has triggered the need for an unprecedented financial response from the EU with a historic €750 billion agreement to the benefit of Member States signed on 21 July after a 72-hour marathon of negotiations.
The distribution of sectorial aid through loans and grants will be key for the economic recovery of some severely hit sectors (e.g. aviation, automotive, tourism, hospitality, catering and culture) but also of strategic importance to secure the long-term advantage of the EU economy in competitive sectors (health, hydrogen), and accelerate the green and digital transformation of the EU economy.
In this context, many actors of the EU economy must make sure their sector will be adequately financed and secure EU funding for their company.
Considering the amounts at stake, being proactive will be a determining factor for companies and trade associations to obtain their share. Missed opportunities will be potentially fatal to late-comers.
Time constraints and bureaucracy are often deterring factors preventing entrepreneurs from seizing opportunities even if the use of public affairs experts and specialists can significantly increase chances of success.
EU countries are currently working on their priorities which they will submit to the European institutions for approval by the end of the year. Each stakeholder should engage with EU officials and their national counterparts to raise awareness toward their sector and present their arguments before it is too late.
Lighthouse Europe is closely monitoring developments through its network in key EU countries and within the European institutions. We are currently organising a round of informative webinars with our partners.
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By Olivier Benoist