Heading 2 Cohesion, resilience and values represents 32.2 % of the 2021 budget and 73.4 % of the annual budget combined with NGEU. It covers a wide range of EU programmes, many of which were in different headings under the previous MFF. They channel EU investments in three policy areas: regional development and cohesion, recovery and resilience, and investing in people, social cohesion and values. Heading 2 is particularly important for the EU recovery following the Covid-19 outbreak. In total, 97 % of the 2021 tranche of NGEU will be implemented through four programmes under this heading.