The Recovery and Resilience Facility: Progress and Challenges

The EU Recovery and Resilience Facility (RRF), which was first agreed amid the COVID-19 crisis, serves as temporary instrument designed to swiftly and substantially support the economic recovery of Member States. Financed through the issuance of bonds, the RRF offers an innovative approach to EU funding, disbursing funds based on the progress in achieving reforms and investments. In his address to the IIEA, Tony Murphy, President of the European Court of Auditors, provides insights into the RRF's implementation progress, which encompasses grants and loans with a maximum total value of €723 billion. He addresses the associated challenges and risks from an auditor's perspective as we approach the instrument’s midway point.

About the Speaker:

A native of Cabra, Tony Murphy currently serves as Irish Member and President of the European Court Auditors (ECA), the EU’s independent external auditor based in Luxembourg. He has served as Irish Member since March 2018 and was elected to lead the Institution in October 2022 for a three-year term. With over 40 years of experience in public sector auditing, Mr Murphy began his career with the Office of Comptroller Auditor General (OCAG) in Dublin in the late 1970s. After two decades with OCAG, he took up a role with the European Commission in Luxembourg. In 2013, he joined the ECA where he served as Head of the Private Office of an ECA Member and as Director prior to his nomination as Member by the Irish Government.