The European Commission welcomed the European Parliament's adoption of the Commission's proposal for a Coronavirus Response Investment Initiative.

The Parliament's adoption comes only one week after a political agreement between Member States was reached on the proposals, and within two weeks after the proposals were put on the table.

To recall, on 13 March the Commission made two legislative proposals to free up funding under the structural funds, to redirect and reprogramme Cohesion Policy funds and to extend the scope of the EU Solidarity Fund.

The objective is to release and spend the money quickly to help with most pressing needs, whether these are hospital beds, keeping SMEs afloat or helping workers.

The Coronavirus Response Investment Initiative will facilitate the deployment of the European Social Fund to support workers and healthcare. The European Globalisation Adjustment Fund could also be mobilised to support dismissed workers and those self-employed under the conditions of the current and future Regulation. Up to €179 million is available in 2020.