The main objective of this fund is to mitigate the economic and social impact of the Covid 19 pandemic and to make European economies and societies sustainable, resilient and properly prepared, both for green opportunities and for digital transitions.
It is essentially preparing Europe for the future. Funds are collected to help member states implement reforms and investments that are directly consistent with the priorities set by the European Union.
The fund is a different European initiative, compared to those that have existed in the past. The three reasons that make TAA different from past actions are as follows:
- Completion of all projects by the end of 2026
- Mobilization of private resources. Mobilization of private investments and utilization in public investments of PPPs
- Combining Investments and Reforms. As a result of the combination of both, through investments the plan gains macroeconomic and financial strength and through reforms efficiency and perspective are achieved.
The TAA budget amounts to 31.16 billion and the Total Investment Resources: 59.81 billion. €
