Council and Parliament reach provisional political agreement on new framework for regional investment

The German Presidency of the Council and the European Parliament struck a political deal on two structural funds that together will account for over 240 billion of EU investment in the 2021-2027 period.

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URL:

http://www.consilium.europa.eu/en/press/press-releases/2020/12/08/council-and-parliament-reach-provisional-political-agreement-on-new-framework-for-regional-investment/

Retrieved on:

Wednesday, December 9, 2020

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Tags:

Economy of the European Union, European Union, Organizations, Europe, Structural Funds and Cohesion Fund, European Regional Development Fund, Multiannual Financial Framework, Next Generation EU

Summary

Key Points:

The German Presidency of the Council and the European Parliament struck a political deal on two structural funds that together will account for over 240 billion of EU investment in the 2021-2027 period.
The European Regional Development Fund (ERDF) and the Cohesion Fund are part of the next multiannual financial framework, which needs to be adopted before the fund-specific legislation can be enacted.
The draft regulation agreed by the co-legislators simplifies the rules for the two funds and sets the scope of their support over the next seven years.
Another new provision allows for investment in medical equipment and supplies in addition to infrastructure to boost the resilience of health services.