EU Regions to Get More Funds to Tackle Covid Consequences

European Parliament President David Sassoli at the EU Summit. Photo: European Parliament (file photo)
European Parliament President David Sassoli at the EU Summit. Photo: European Parliament (file photo)

REACT-EU is a European Commission proposal to address the economic and social impact of the Covid-19 pandemic.

The Members of European Parliament (MEPs) have approved extra aid for EU regions to respond to the Covid-19 pandemic and its social and health care consequences.

Parliament has approved REACT-EU, a 47.5 billion EUR package to help mitigate the immediate effects of the Covid-19 crisis across EU regions. The initiative was adopted by 654 votes in favour, 23 against, and 17 abstentions.

The aid will be made available through the EU Structural Funds, with 37.5 billion EUR assigned for 2021 and 10 billion EUR for 2022. Operations covered by REACT-EU will be eligible for funding from 1 February 2020, retroactively. The resources can be spent until the end of 2023.

EU countries will be able to allocate part of the money to the European Social Fund, the Fund for European Aid to the Most Deprived (FEAD), the Youth Employment Initiative, as well as cross-border programmes. Investments will be focused on the sectors most affected by the economic fallout of the pandemic.

REACT-EU is a European Commission proposal to address the economic and social impact of the Covid-19 pandemic, in the form of an amendment to the Common Provisions Regulation, which governs the 2014-2020 cohesion policy programming period.

Support RMN News Service for Independent Fearless Journalism

In today’s media world controlled by corporates and politicians, it is extremely difficult for independent editorial voices to survive. Raman Media Network (RMN) News Service has been maintaining editorial freedom and offering objective content for the past more than 10 years despite enormous pressures and extreme threats. In order to serve you fearlessly in this cut-throat world, RMN News Service urges you to support us financially with your donations. You may please click here and choose the amount that you want to donate. Thank You. Rakesh Raman, Editor, RMN News Service.

RMN News

Rakesh Raman