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Following the announcement of the Recovery Plan (ERP) by the European Commission on 27 May, European leaders have now agreed to create a EUR 750 billion (US 858 billion) recovery fund to support the recovery of EU economies affected by the COVID-19 crisis. The fund will allow companies to benefit from direct grants and favorable loans for ‘green’ initiatives in order to catalyze investment and kick start the economy post-COVID-19.

At Baker McKenzie, we believe that the ERP has huge potential to drive major change for companies that choose to explore growth opportunities through the scheme without delay. The Commission is expected to launch a first call for funding submissions in early autumn, and more will follow in 2021 and 2022. A user-friendly interactive document that provides further information and contact details for our ERP experts is attached.

Author

Christopher Jones is a Principal for Energy, regulatory and Antitrust in the European Competition Law Practice Group in the Brussels office. He joined Baker McKenzie in 2018. Christopher's career has spanned more than 30 years at the European Commission. He was previously Deputy Head of Cabinet for the Energy Commissioner and spent 18 years designing and implementing Europe's energy policy. Christopher has significant experience in competition policy, having spent 11 years in the field including responsibility for antitrust and mergers in the Cabinet of the Energy Commissioner, and as personal Policy Assistant to two Directors' General. He is also a leading academic in the competition and energy areas, editing and co-authoring the standard text books on Competition Law and Energy Markets, the Internal Energy Market, and EU Renewable Law and Policy, as well as books on merger control and the standard competition law reference work, the EU Competition Law Handbook.

Author

Kathy Honeywood joined Baker McKenzie in May 2018 as a partner in the London Corporate Group. Kathy is a member of Baker McKenzie's Global Energy, Mining and Infrastructure Industry Group. She focuses on M&A, corporate finance and joint ventures and has significant Asia Pacific experience, including secondments to China and Singapore and advising on a number of high-profile Asia outbound M&A matters.

Author

Richard Blunt is a partner in Baker McKenzie London's Corporate Department, where he leads the Energy, Mining and Infrastructure Group.