The European Commission announced on Friday 18 December that the Coronavirus Response Investment Initiatives (CRII and CRII+) have mobilised €18 billion to address the socio-economic consequences of the pandemic.
These initiatives have led to adjustments of 82% of cohesion policy programmes related to jobs and growth in 25 Member States and the United Kingdom, the Commission said in its press release.
According to the institution’s ‘coronavirus dashboard’, for example, €6.9 billion was redirected to health, a net increase of €6.6 billion.
In addition, €10 billion was reallocated to support businesses, resulting in a net increase of €2.9 billion. According to the same table, €3 billion has been made available to directly assist so-called “vulnerable” workers and groups.
In all, the measures immediately released €7.6 billion in cash and 160 cohesion programmes benefited from 100% EU co-financing. Some €4.7 billion has been transferred between funds and between categories of regions.
The REACT-EU Regulation, endowed with €47.5 billion through 2023, maintains most of the provisions introduced by the CRII and CRII+ (see EUROPE 12604/2). (Original version in French by Pascal Hansens)