The FAST (Flexible Assistance for Territories)-CARE amendments changing the Cohesion Funds regulation have been published on the Official Journal today and will entry into force on 26 October.
- 25 October 2022
The FAST-CARE offers maximum flexibility for the implementation of Cohesion Policy investments to alleviate the consequences for Member States and regions of the Russian war on Ukraine. The changes will contribute to mitigate the delayed implementation of EU-funded projects due to the combined effect of COVID and the high energy costs, shortage of raw materials and labour force caused by the war.
This follows the Cohesion’s Action for Refugees in Europe (CARE) aimed to mobilised investments for housing, healthcare, translation or training for displaced people, as well as for the countries receiving them.
The Commission tabled the FAST-CARE proposals on 29 June: in less than four months the co-legislators, the European parliament and the Council of the EU, adopted the revised regulation.