EU budget: Commission takes steps to make €11.5 billion available for crisis repair and recovery in 2020

EU budget: Commission takes steps to make €11.5 billion available for crisis repair and recovery in 2020

The Commission has today proposed modifications to its budget for 2020 to make €11.5 billion for crisis repair and recovery available already in 2020. Once available, the funds will go to help the regions most in need, support businesses and those in need outside EU borders. (...) To bridge the period until ratification of the amended Own Resources Decision, and make much needed funding available to workers, businesses and Member States already in 2020, the Commission proposed last week to adjust the current 2014-2020 long-term budget in order to allow for higher spending still in 2020. Today's proposal comes on top, making sure that the additional 11.5 billion for REACT-EU, the Solvency Support Instrument and European Fund for Sustainable Development (EFSD) will become available as early as possible this year.(...)