Press release - EU regions get additional 47.5 billion EUR to tackle local effects of COVID-19

Parliament has approved REACT-EU, a 47.5 billion EUR package to help mitigate the immediate effects of the COVID-19 crisis across EU regions.

Metadata
Provider: 
ECEC
URL: 
https://www.europarl.europa.eu/news/en/press-room/20201211IPR93620/https://www.europarl.europa.eu/news/en/press-room/20201211IPR93620/
Retrieved on: 
Thursday, December 17, 2020
Information
Tags: 
Organizations, Europe, Next Generation EU, Structural Funds and Cohesion Fund, European Union
Summary
Key Points: 
  • Parliament has approved REACT-EU, a 47.5 billion EUR package to help mitigate the immediate effects of the COVID-19 crisis across EU regions.
  • The aid will be made available through the EU Structural Funds, with 37.5 billion EUR assigned for 2021 and 10 billion EUR for 2022.
  • Details on the political agreement reached by EU legislators on 18 November are available here.
  • Resources for REACT-EU will come from Next Generation EU, the European Union recovery instrument.
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