Press Release: Road to recovery: Cohesion Policy will help Europe to get out of the crisis, say Commissioners Hübner and Špidla

On 5 May, 2009, Commissioners Danuta Hübner (Regional Policy) and Vladimír Špidla (Employment, Social Affairs, and Equal Opportunities) welcomed the finalisation of an agreement by the Council and European Parliament in support of the Cohesion Policy package in response to the economic crisis. The comprehensive package includes a battery of measures, ranging from a massive cash injection in the form of additional advance payments from the Structural Funds to fast-track procedures to accelerate project implementation and the possibility for the EU to co-finance energy-efficiency improvements in housing. Member States have already received an additional €6.25 billion in advance payments - €4.5 bn from the European Regional Development Fund was paid out in mid-April, with a further €1.5 bn from the European Social Fund (ESF) soon after.