An update of the EU’s financial rules governing the European Structural and Investment Funds (ESIF), including the European Agricultural Fund for Rural Development (EAFRD), was adopted by the European Council on 16 July 2018.

The so-called Omnibus Regulation introduces new Simplified Cost Options to increase their use and lead to a significant reduction of administrative burden for all actors involved in the implementation of the ESI Funds. For rural development, the update relates to the Common Provisions Regulation and complements a first round of simplifications of the Common Agricultural Policy, adopted in November 2017.