The Recovery and Resilience Facility (RRF), the largest component of the European Union’s landmark Next Generation EU programme enacted in 2021, has passed its halftime. The European Commission presented a very positive assessment of the RRF in its mid-term evaluation, which was also supported by an independent evaluation. However, implementation is belated, while questions about the RRF’s results orientation and additionality remain open. What lessons to learn from the RRF for the future design of EU funding instruments?