Coronavirus response: €183.5 million to support Greek economy
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The Coronavirus / COVID-19 pandemic presents a major challenge to the entire European Union. National, regional and local communities are on the front line in countering the disease and its socio-economic impact. Solidarity and responsibility across our societies and between Member States are key to overcoming this challenge. The Commission launched in April 2020 two packages of measures: the Coronavirus Response Investment Initiative (CRII) and the Coronavirus Response Investment Initiative Plus (CRII+) to mobilise EU cohesion policy to face the crisis. The two proposals were swiftly adopted by the European Parliament and the Council of the EU. The CRII package does not offer new EU financial resources, rather it provides flexibility to use existing, unspent resources and re-direct them to where they are most needed.
Other flexibilities available include:
Transferring unallocated EU funding between funds and categories of regions;
An immediate increase of liquidity to improve cash flow;
An option to increase the EU co-financing rate to 100% for the 2020-21 accounting year;
The CRII/CRII+ initiatives were supplemented on 27 May with the presentation of the REACT-EU package, which is currently under negotiation with the Council and European Parliament institutions.
