first REACT-EU support measures for recovery and transition approved for the Netherlands and Austria

Reading Time: < 1 minute

The Commission approved the first decisions under REACT-EU (Recovery Assistance for Cohesion and the Territories of Europe) involving a modification of four operational programmes for the European Regional Development Fund (ERDF) in the Netherlands and Austria that will increase the funding available for investments by nearly €262 million from REACT-EU. The Netherlands and Austria thus become the first EU countries to make use of REACT-EU.

Commissioner for Cohesion and Reforms, Elisa Ferreira said: “The resources under REACT-EU are of crucial importance for the recovery of the economy. I call on Member States to complete their internal procedures for the approval of the Own Resources Decision so that we can start borrowing. Meanwhile, we are working fast forward to approve the programming decisions for this funding. I encourage all Member States to move as quickly as possible with their submissions so that additional funding can start flowing for a green, digital and cohesive recovery.”

In the Netherlands, the three amendments increase the EU co-financing rate and facilitate investments in the green and digital transition contributing to the resilience of the regional economy in North, East and South Netherlands. This is in accordance with the REACT-EU objectives and with the 2020 country specific recommendations.

Related Stories

%d bloggers like this: