This chapter analyses how the Covid-19 pandemic reshaped the European Union (EU)’s financial assistance regime, marking a profound departure from the logic of the Euro crisis. While the intergovernmental ESM was adapted through the Pandemic Crisis Support (PCS) credit line, its association with past austerity rendered it politically unusable. Instead, the pandemic spurred institutional innovation through SURE and, most decisively, the Recovery and Resilience Facility (RRF), the centrepiece of the NextGenerationEU (NGEU) package. By combining common borrowing, large-scale grants and a novel governance framework centred on the European Commission, the RRF redefined the EU’s capacity to respond to symmetric shocks. The chapter argues that this transformation signalled a paradigm shift from intergovernmental coordination to a form of limited supranational delegation, with the Commission empowered to oversee national recovery plans and enforce compliance, while member states retained political control through the Council. The pandemic response thus represented a critical juncture, embedding solidarity and supranational delegation at the heart of EU financial assistance.