Coronavirus Response Investment Initiative adopted

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30/03/2020

The Coronavirus Response Investment Initiative has been adopted and will enter into force on 1 April. €37 billion of cohesion policy money will strengthen healthcare systems, support SMEs, short-term employment schemes, and community-based services. 

Furthermore the EU Solidarity Fund will be deployed to support the most affected countries.

Of the total, about €8 billion will come from unspent pre-financing in 2019 under the structural and cohesion funds. The new measure allows member states to spend unused money to mitigate the impact of the pandemic instead of returning it to the EU budget. Another €29 billion will be disbursed early from allocations which would have been due later this year. This money in, combination with co-financing from the EU budget of some €29 billion, will trigger total EU budget support of €37 billion.

Member states will also have greater flexibility to make transfers between cohesion policy programmes in order to redirect resources to where they are most needed.

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