|Author (Corporate)||Council of the European Union, European Parliament|
|Series Title||Official Journal of the European Union|
|Series Details||L 130, Pages 1-6|
Regulation (EU) 2020/558 which allows for the processes and funding of the European Structural and Investment Funds (ESIF) to be adapted in light of the COVID-19 pandemic response. This initiative became known as the 'Coronavirus Response Investment Initiative Plus' (or CRII+). It was formally adopted by the co-legislators on 23 April 2020.
The aim is to ensure that all support from the Funds can be mobilised to address the effects of the COVID-19 pandemic. The proposed amendments include, among others, the temporary possibility of 100% co-financing from the EU budget for the implementation of cohesion policy programmes; the exemption from the need to comply with thematic concentration requirements; the mobilisation of resources for scaling up and extending short-time work scheme, for support to SMEs working capital and for immediate expenditure in the healthcare sector.
This proposal was adopted by the European Commission on 2 April 2020 as part of a package of measures on mobilising the full extent of the EU Budget. The European Parliament formally endorsed the draft maw on 17 April, followed by the Council of the European Union on 22 April. The Act was signed on the following day and published in the Official Journal on 24 April 2020.
|Subject Categories||Internal Markets|
|Subject Tags||European Structural and Investment Funds [ESIF], Regional Dimension|
|Keywords||Cohesion Fund [CF], COVID-19 (Coronavirus), European Maritime and Fisheries Fund [EMFF], European Regional Development Fund [ERDF], European Social Fund [ESF]
|International Organisations||European Union [EU]|