REACT-EU

2024-01-15T15:06:00.000ZUpdated

Description

Recovery Assistance for Cohesion and the Territories of Europe package (REACT-EU) is an initiative that continues and extends the EU response to the coronavirus crisis and crisis repair measures.

On 18 November 2020, the European Parliament and the Council concluded negotiations on providing assistance to foster crisis repair in response to the COVID-19 pandemic and its social consequences, and preparing a green, digital and resilient recovery of the EU economy.

REACT-EU will provide €47,5 billion over the next two years. The resources will be made available through the EU Structural Funds, with €37.5 billion allocated for 2021 and €10 billion for 2022.

Resources will be allocated in accordance with the partnership principle, involving local and regional authorities, as well as relevant bodies representing civil society and social partners.

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