COVID-19 - UDiTE
Back
CORONAVIRUS RESPONSE INVESTMENT INITIATIVE
CORONAVIRUS RESPONSE INVESTMENT INITIATIVE
00
Coronavirus Response Investment Initiative
General objective: To use all the means at our disposal to fight
against the coronavirus and its economic spin-offs;
Cohesion policy funds available and unused: bringing forward
expenditure and redirecting the ERDF, ESF, Cohesion Fund and EGF
(Fisheries Fund) towards the fight against coronavirus;
- The immediate provision of cash is what matters now to save lives and support viable businesses ;
- Adapt the eligibility rules to ensure a high and relevant impact;
- Flexible application of rules - commit funds in the coming weeks to deal with paperwork later;
- Administrative support to Member States;
How w
ill it work?
?
The EU will direct €37 billion to this in the
coming weeks:
- About €8 billion of liquidity to be made available immediately to
Member States for their national contributions under cohesion policy
projects. This is coming from the pre-financing advance that Member
States receive as part of the normal Structural Investment Fund
advances. This proposal waives the requirement in 2020 to reimburse
the unused pre-finacing back to Brussels and instead use it
immediately on a wider range of eligible actions immediately under
new schemes or existing projects;
- What is pre-financing? Usually, the EC uses this accounting
approach with all 28 Member States each of the Structural
Investments Funds are provided as a cash advance to the Member
States. If the recipient Member State does not incur eligible
expenditures under its various programmes and projects due to
reduced claims or ineligible activities there is normally an
obligation on that Member State to return the pre-financing advance
to the EU institution or body.
- If this initial 8 billion is fully used, this will be generate an addition €29 billion of draw down from the EU budget money from the European Structural and Investment Funds; no fresh Member State money will be needed for the €37 billion support.
Three Priorities – a much wider scope of eligibility
- Priority 1 - Corona-relevant health expenditure in any part of the Member States including hospital equipment, breathing ventilators and masks;
- Priority 2 - Support to SMEs working capital
- Priority 3 - Short-term employment schemes
Download attachments
covid-19
european union
european commission
Category:
Local Public Health Measures
Local Business Support
Content Related to CORONAVIRUS RESPONSE INVESTMENT INITIATIVE
Impact on Public Health
In this 30-minute recorded teleconference, Dr. E. Oscar Alleyne,
chief of programs and services, National Association of County and
City Health Officials (NACCHO), ..
Published 14 April 2020
Rating
00
Jeff Finkle, president and CEO of the International Economic
Development Council (IEDC), provides an update on COVID-19. He
describes lessons learned from past experiences in emerging from
econ..
Published 14 April 2020
Rating
00
In this webinar Mark O’Mara, director of recovery for Hagerty
Consulting, and ICMA Strategic Partner, discusses federal funding
opportunities related to COVID-19, and the many puzzle pieces,
in..
Published 14 April 2020
Rating
00
Austria: Stätdebund , Gemeindebund
Belgium: VVSG , UVCW , Brulocalis
Bulgaria: NAMRB
Czechia: SMO CR
Denmark: KL
Estonia: AECM
Finland: AFLRA
Germany: DStGB..
Published 14 April 2020
Rating
00
CORONAVIRUS: THE EUROPEAN COMMISSION MOBILISES ALL OF ITS RESOURCES TO PROTECT LIVES AND LIVELIHOODS
Published 14 April 2020
Rating
00
An exchange platform will help sharing needs and solutions, will
enhance mutual support and act as a feedback mechanism to enable a
reality check of the EU measures from the local and regional an..
Published 14 April 2020
Rating
00
At a time when the Covid-19 epidemic is posing
unprecedented challenges to the health sector, the Council of Europe
calls on governments to be extremely vigilant against counterfeit or
falsif..
Published 14 April 2020
Rating
00
Safely collecting household waste in the age of COVID-19
Cities and regions across Europe face many challenges in collecting
household waste while limiting the spread of the coronavirus. To
con..
Published 28 April 2020
Rating
00
#EUvsVirus - The pan European hackathon
Together with European society, the European Commission is looking
for solutions to challenges related to the coronavirus. Between 24 and
26 Ap..
Published 15 April 2020
Rating
00
While all of Europe is reeling from the coronavirus pandemic, the
crisis undeniably has a strong territorial dimension. Some localities
and territories are more severely affected and different re..
Published 28 April 2020
Rating
00
The European Commission has released guidance on how to safely resume
travel and tourism as COVID-19 restrictions begin to soften. As part
of this, the Commission is encouraging and supporting th..
Published 20 May 2020
Rating
00
The 26 country Schengen passport free zone was suspended with
multiple member states confirming their intention to close borders.
Published 26 May 2020
Rating
00