EPRS Admin By / May 20, 2020

EU response to Covid – Budget_2

EU budgetary response to the coronavirus epidemic

The EU has also established an initiative to provide liquidity to support SMEs, labour markets and the healthcare sector. In normal times, the EU claims back unspent pre-financing from the European structural and investment (ESI) funds held by Member States. In view of the serious consequences of the pandemic, this year these amounts will furnish a €37 billion Coronavirus Response Investment Initiative. With the Coronavirus Response Investment Initiative Plus (CRII+), the EU introduced further flexibility to the rules governing the funds, allowing Member States to transfer unspent resources between funds and between different categories of region (See also ‘Potential additional resources’ below). Exceptional measures to assist agricultural and small agri-food businesses, as well as the fishing industry, are at this stage estimated by the Commission at €721 million.

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