|Author (Corporate)||Council of the European Union, European Parliament|
|Series Title||Official Journal of the European Union|
|Series Details||L 231, Pages 159-706|
|Content Type||Blog, Legislation, News, Policy-making|
Regulation (EU) 2021/1060 - formally adopted by the European Union on 24 June 2021 - setting out common provisions for seven shared management funds in the framework of the Multiannual Financial Framework (MFF) for the period 2021-2027.
The Common Provisions Regulation (CPR) sets out provisions for seven shared management funds: the Cohesion Fund (CF), the European Regional Development Fund (ERDF), the European Maritime and Fisheries Fund (EMFF), the European Social Fund Plus (ESF+), the Asylum and Migration Fund, the Border Management and Visa Instrument and the Internal Security Fund.
The original proposal was published on 29 May 2018 to set governance aspects concerning these cohesion funds for the period 2021-2027, based on a set of policy priorities. It aims to reduce fragmentation of rules, delivering a common set of basic rules for the funds considered.
The COVID-19 (coronavirus) pandemic later caused substantial impact on socioeconomic realities across the European Union (EU), as well on economic and financial conditions of Member States. An amended draft law was tabled on 28 May 2020 in the context of revised proposals for the MFF. The Commission introduced mechanisms for a quick response to future shocks in the EU. It lays out criteria for derogations and proposes the empowerment of the Commission to adopt implementing acts to provide for temporary measures. This Regulation did not replace Regulation EU No 1303/2013 concerning the previous financial framework.
The Council of the European Union's committee of representatives adopted a partial position on this draft law on 22 July (as it excludes relating financial elements). A political agreement between Member States on the financial ceilings of the wider MFF was reached in July 2020, followed by an interinstitutional agreement in November. The co-legislators reached an informal agreement on a compromise text concerning this file on 30 November 2020. This was formally endorsed by the Council on 28 May 2021 and by the Parliament on 23 June. The Act was signed by the co-legislators on 24 June 2021 and published in the Official Journal on 30 June 2021.
|Subject Categories||Internal Markets|
|Subject Tags||Cohesion Policy, Multiannual Financial Framework [MFF]|
|Keywords||Asylum and Migration Fund, Border Management and Visa Instrument, Cohesion Fund [CF], COVID-19 (Coronavirus), European Maritime and Fisheries Fund [EMFF], European Regional Development Fund [ERDF], European Social Fund Plus [ESF+], Internal Security Fund, MFF 2021-2027
|International Organisations||European Union [EU]|