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The European Court of Auditors released a report on May 6 finding that billions of euros from the EU's Recovery and Resilience Facility cannot be clearly traced, with thousands of fund recipients — including businesses and large consortia — remaining unidentified.

The European Court of Auditors released a report on May 6 finding that billions of euros from the EU's Recovery and Resilience Facility cannot be clearly traced, with thousands of fund recipients — including businesses and large consortia — remaining unidentified.

The RRF was established in 2020 to provide grants and loans to EU member states recovering from the COVID-19 pandemic. By January 2026, €577 billion of the fund's €723.8 billion total had been committed.

The RRF was established in 2020 to provide grants and loans to EU member states recovering from the COVID-19 pandemic. By January 2026, €577 billion of the fund's €723.8 billion total had been committed.

Auditors examining 10 EU member states found the top 100 disclosed beneficiaries were almost exclusively public bodies such as ministries and local governments, with little public information available on private sector recipients.

Auditors examining 10 EU member states found the top 100 disclosed beneficiaries were almost exclusively public bodies such as ministries and local governments, with little public information available on private sector recipients.

French authorities told auditors that collecting data on final recipients and amounts paid was "too administratively burdensome." Two years ago, 22 people were arrested across Italy, Austria, Romania and Slovakia over the suspected misuse of €600 million in RRF funds.

French authorities told auditors that collecting data on final recipients and amounts paid was "too administratively burdensome." Two years ago, 22 people were arrested across Italy, Austria, Romania and Slovakia over the suspected misuse of €600 million in RRF funds.

The European Commission rejected the auditors' findings, saying rules governing the fund were agreed upon by all 27 member states. A commission spokesperson said there is "no legal basis" for it to request or analyze national data on actual project costs.

The European Commission rejected the auditors' findings, saying rules governing the fund were agreed upon by all 27 member states. A commission spokesperson said there is "no legal basis" for it to request or analyze national data on actual project costs.

Auditors warned that the RRF's conditions-based payment model — under which funds are disbursed upon meeting milestones rather than reimbursing actual costs — could be extended to the EU's next long-term budget, covering 2028 to 2034 and potentially totaling around €2 trillion.

Auditors warned that the RRF's conditions-based payment model — under which funds are disbursed upon meeting milestones rather than reimbursing actual costs — could be extended to the EU's next long-term budget, covering 2028 to 2034 and potentially totaling around €2 trillion.

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EU auditors sound alarm over billions in COVID recovery funds that can’t be clearly traced

EU auditors sound alarm over billions in COVID recovery funds that can’t be clearly traced

COVID-19

Europe

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EU Billions Untraceable in Recovery Fund Audit

EU Billions Untraceable in Recovery Fund Audit

EU auditorsBillions soundUntraceable alarm over billions in COVIDRecovery recoveryFund funds that can’t be clearly tracedAudit

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EU Billions Untraceable in Recovery Fund Audit

EU auditorsBillions soundUntraceable alarm over billions in COVIDRecovery recoveryFund funds that can’t be clearly tracedAudit

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