Helping to spend it wisely: REACT-EU and the challenges of good projects. EIPA briefing October 2020.

Lopriore, Marco (2020) Helping to spend it wisely: REACT-EU and the challenges of good projects. EIPA briefing October 2020. UNSPECIFIED.

PDF - Published Version Download (172Kb)

Abstract

Cohesion Policy has been one of the key instruments used by the EU to help deal with the economic impact of the pandemic. In April, the EU adopted the Corona Response Investment Initiatives (CRII and CRII+). These initiatives help Member States with much-needed liquidity to ease pressure on central and regional budgets in sectors such as tourism, health and SME. They also provide for greater flexibility and simplification in disbursing Cohesion funds under current rules. In July, in the context of discussion of the next MFF 2021-2027, the European Council approved the REACT-EU resources (Recovery Assistance for Cohesion and the Territories of Europe). This initiative adds a further €47.5 billion to the 2021-2027 cohesion envelope. The REACT-EU funding will be distributed among Member States, taking into account their relative prosperity and the extent of the effects of the current crisis on their economies and societies, including on youth unemployment. Member States will be able to rely on existing key management structures in order not to delay implementation further. REACT-EU funding will be integrated the current operational programmes for 2014-2020, although most countries will amend their programmes by introducing at least one new dedicated priority axis, and some may choose to set up at national level a new programme altogether.

Actions (login required)