European Union Solidarity Fund

Press release - Three countries to receive nearly €455 million in EU aid after natural disasters

Retrieved on: 
Wednesday, October 4, 2023
Emergency, European Union Solidarity Fund, Commission, July–September 2022 Conservative Party leadership election, European Commission, Parliament, Climate change, Flood, Earthquake, EP, Weather, Union, EUSF, Fund, Tourism, EU, Central Europe

Three countries to receive nearly €455 million in EU aid after natural disasters

Key Points: 
  • Three countries to receive nearly €455 million in EU aid after natural disasters
    - €33.9 million for Romania following damage caused by severe 2022 drought
    - Italy to receive €20.9 million for the damage caused by the September 2022 flooding in the Marche region
    - €400 million to Türkiye following two major earthquakes in February 2023
    On Wednesday, Parliament approved nearly €455 million in EU Solidarity Fund aid in response to recent natural disasters in Romania, Italy and Türkiye.
  • MEPs express their “deepest solidarity with all the victims, their families and all the individuals affected” by the natural disasters in Romania, Italy and Türkyie.
  • Background
    The European Union Solidarity Fund (EUSF) was set up to respond to major natural disasters and express European solidarity to disaster-stricken regions within Europe.
  • Since then, it has been used for 107 natural disasters covering a range of different catastrophic events including floods, forest fires, earthquakes, storms, and drought.

Best's Commentary: Industry-Backed Solutions Likely to Support Morocco Earthquake Relief Despite Low Insurance Penetration

Retrieved on: 
Friday, September 15, 2023
Banking, Professional Services, Insurance, Finance, AM Best, ALL, World Bank, Theory, MAD, European Union Solidarity Fund, News, Caribbean Catastrophe Risk Insurance Facility Segregated Portfolio Company

The devastating earthquake that struck Morocco on 8 September 2023 affected an area with low insurance penetration.

Key Points: 
  • The devastating earthquake that struck Morocco on 8 September 2023 affected an area with low insurance penetration.
  • The Best’s Commentary, “Industry-Backed Solutions Likely to Support Morocco Earthquake Relief Despite Low Insurance Penetration,” states that the Solidarity Fund for Catastrophic Events, which is the part of the scheme covered by the parametric arrangement, provides coverage to the uninsured and most vulnerable part of the population.
  • AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry.
  • Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.

Press release - Seven countries to receive nearly €720 million in EU aid after natural disasters

Retrieved on: 
Wednesday, December 14, 2022
Fund, Flood, European Union Solidarity Fund, Weather, EUSF, Types of volcanic eruptions, DE, Member of the European Parliament, Commission, EP, Earthquake, Joint Support Service (Germany), Greens–European Free Alliance, Climate change, Fossil fuel, Insurance, Central Europe, EU

Seven countries to receive nearly 720 million in EU aid after natural disasters

Key Points: 
  • Seven countries to receive nearly 720 million in EU aid after natural disasters
    - Support for Germany, Belgium, the Netherlands, Austria, Luxembourg following a series of catastrophic floods in the summer of 2021
    - Support for Spain and Greece following volcanic eruptions and an earthquake
    On Wednesday, MEPs approved nearly 720 million in EU Solidarity Fund aid following natural disasters in seven EU countries in 2021.
  • The 718.5 million in aid from the European Union Solidarity Fund (EUSF) will be distributed as follows.
  • Background
    The European Union Solidarity Fund (EUSF) was set up to respond to major natural disasters and facilitate European solidarity with disaster-stricken regions within Europe.
  • Since then, it has been used for 100 natural disasters covering a range of different events including floods, forest fires, earthquakes, storms and drought.

Naspers Limited: Press Related to Tencent

Retrieved on: 
Tuesday, November 1, 2022
Professional Services, Online Retail, Retail, Technology, Fintech, Internet, Auto Trader, Disclosure, Article, PayU, Council, Share repurchase, American depositary receipt, Abuse, European Union Solidarity Fund, COVID-19, Nelson Mandela, JSE, Euronext Amsterdam, European, Human, Tech, Meal, Technology, Good, PPE, Sale, European Parliament, NPN, Repurchase agreement, JSE Limited, ADR, CITIC, Solution, Forward-looking statement, Internet, Cryptocurrency, Security (finance), Pharmaceutical industry, Medical device, EU, Tencent, Group, Prosus, Naspers

Naspers Limited ("Naspers") (JSE: NPN): Shareholders are referred to article published on 31 October 2022 by Asian Tech Press.

Key Points: 
  • Naspers Limited ("Naspers") (JSE: NPN): Shareholders are referred to article published on 31 October 2022 by Asian Tech Press.
  • The article claims that a CITIC-lead group (a Chinese stated-owned investment company) is in talks with Naspers to buy all the Tencent shares owned by the Group.
  • Established in 1915, Naspers has transformed itself to become a global consumer internet company and one of the largest technology investors in the world.
  • Naspers is focused on stimulating South Africas local tech sector through Naspers Foundry .

Press release - EU help for Croatia after devastating earthquakes

Retrieved on: 
Friday, January 22, 2021
Organizations, Articles, Directorate-General for European Civil Protection and Humanitarian Aid Operations, European Union Solidarity Fund, International organizations, European Union

Start reconstruction as soon as possible

Key Points: 
  • Start reconstruction as soon as possible

    MEPs welcome the solidarity shown by member states, EU institutions and the international community through mutual assistance in emergency situations.

  • They stress the importance of the European Union Civil Protection Mechanism in fostering cooperation among national civil protection authorities across Europe.
  • Through the EU Civil Protection Mechanism, 15 countries sent immediate assistance, including housing containers, winter tents, sleeping bags, beds, and electric heaters.
  • To help the country deal with the devastating effects of that earthquake, Parliament made 683.7 million EUR available from the European Union Solidarity Fund (EUSF).

Press release - COVID-19 and natural disasters: €823 million in EU aid for eight member states

Retrieved on: 
Tuesday, November 24, 2020
European Union, European Union Solidarity Fund

Of these, seven countries requested that the payment be made in advance, which Parliament approved with this vote.

Key Points: 
  • Of these, seven countries requested that the payment be made in advance, which Parliament approved with this vote.
  • Background information on the EU Solidarity Fund

    More information and a table with precise amounts per country can be found in Parliaments report and the Commissions proposal.

  • Next steps

    The Council of Ministers approved the advance payments on 30 October, which can now be disbursed following the plenary vote.

  • Once this assessment has been completed, the Commission will put forward a proposal to make the final payments.

Highlights - Vote on EU solidarity package for Portugal, Spain, Italy, Austria - Committee on Budgets

Retrieved on: 
Monday, May 11, 2020
Countries, World, International organizations, Economy of the European Union, Eurozone, European Union Solidarity Fund, European Union, Euro, Austria

Vote on EU solidarity package for Portugal, Spain, Italy, Austria

Key Points: 
  • Vote on EU solidarity package for Portugal, Spain, Italy, Austria
    Vote on EU solidarity package for Portugal, Spain, Italy, Austria
    BUDG Members will vote remotely, on 27 May 2020, on a European Commission proposal to mobilise the EU Solidarity Fund for Portugal, Spain, Italy and Austria for a total amount of EUR 279 million.
  • The EU assistance is to reimburse Member State authorities partially for costs incurred in the emergency and recovery operations addressing the damages caused by extreme weather events that all took place in autumn of 2019.
  • A rare meteorological phenomenon described as "isolated high altitude depression" affected four regions in the south east of Spain in September 2019, leading to flooding (EUR 57 million);
    Most of the Italian territory was affected, between October and November 2019, by a series of connected extreme weather events, leading to severe damage and culminating in the disastrous flooding of Venice (EUR 212 million);
    In November 2019, the south-west of Austria suffered from severe flooding, particularly in Carinthia and Eastern Tyrol, both Alpine areas bordering on Italy (EUR 2 million).
  • The rapporteur, Jos Manuel Fernandes (PT, EPP), recommends the rapid mobilisation of these amounts as proposed by the Commission and the swift delivery of the EU assistance, as a sign of European solidarity with the four Member States concerned.

Article - Coronavirus: EU countries to get help from Solidarity Fund

Retrieved on: 
Tuesday, March 24, 2020
Organizations, European Union Solidarity Fund, International organizations, World, Natural disaster, Disaster, European Union

The proposal is part of a set of EU measures to mobilise all existing budget resources to help EU countries tackle the pandemic.

Key Points: 
  • The proposal is part of a set of EU measures to mobilise all existing budget resources to help EU countries tackle the pandemic.
  • The Commission proposes to broaden the Solidarity Funds scope to add major public health crises to the natural emergencies initially covered.
  • EU solidarity

    Created as a reaction to the severe floods in Central Europe in 2002, the EU Solidarity Funds main objective is to provide financial assistance to EU member states dealing with natural disasters.

  • Under the current rules, the fund can only support the recovery from disasters such as floods, forest fires, earthquakes, storms and droughts.

Press release - Parliament approves €4.5 million in EU aid to Greece after cyclone damage

Retrieved on: 
Wednesday, November 27, 2019
Physical geography, Flood, Hydrology, European Union Solidarity Fund, Water, Earth

Between 23 and 26 February 2019, exceptionally heavy rain and storms hit Crete, in particular the western part of the island.

Key Points: 
  • Between 23 and 26 February 2019, exceptionally heavy rain and storms hit Crete, in particular the western part of the island.
  • The resulting floods and landslides caused the loss of human life and have had disastrous consequences on infrastructure and economic activities - roads and agriculture were particularly affected.
  • Now that the proposal has been approved by Parliament and Council (8 November), Greece should receive 4,552,517 in financial assistance, minus 10% (455,252) already paid out to Greece as an advance, mainly to help restore transport infrastructure and support clean-up operations.
  • Background

    The EUSF was set up in 2002 in response to disastrous flooding in central Europe in the summer of that year.

Highlights - BUDG to vote on EU assistance to Crete after cyclone - Committee on Budgets

Retrieved on: 
Wednesday, November 13, 2019
Rapporteur, European Union Solidarity Fund, Kaili, European Parliament Committee on Budgets, Solidarity, Politics, Law

BUDG to vote on EU assistance to Crete after cyclone

Key Points: 
  • BUDG to vote on EU assistance to Crete after cyclone

    On 25 November, the Committee on Budgets will decide whether to mobilise the European Union Solidarity Fund for an amount of EUR 4.6 million to provide assistance to Greece in response to floods and landslides that took
    place in western Crete in February 2019.

  • An advance payment of 10% has already been paid out.
  • The rapporteur, Ms Eva Kaili, recommends the swift approval of the decision, so that the funds may be rapidly mobilised, as a sign of European solidarity with the affected region.
  • If approved at the committee stage, the file would be submitted to the plenary vote later that same week, during the November II session in Strasbourg.