The EU budget mobilises cohesion resources to face crisis affecting Europe

The role of the EU budget

Regional policy is the EU’s main investment policy and strives to improve the standard of living of Europeans across the European Union, thereby increasing the cohesion between European regions. To attain this objective, cohesion funds provide funding of about €392 billion in 2021-2027. Furthermore, to address the unforeseen challenges of first the coronavirus crisis and then Russia’s war of aggression against Ukraine, the EU budget introduced new flexibilities to use existing, unspent resources and re-direct them where they are most needed.

This has shown the added value of the EU budget and the EU’s capacity to quickly respond to unexpected crises.

More details – results achieved

The EU budget intervention delivered concrete and immediate results on the ground.

In 2020 alone – under instruments called Coronavirus Response Investment Initiative (CRII) and Coronavirus Response Investment Initiative Plus (CRII+):

• Small and medium-sized enterprises benefited from over €10 billion of additional support, which helped businesses to stay afloat,
• €3 billion was directed to people, including social services for vulnerable groups and temporary employment schemes for workers,
• €6.6 billion were channelled to support the health sector.

In 2022 – under instruments called Cohesion’s Action for Refugees in Europe (CARE) and Flexible Assistance for Territories (FAST-CARE):

• EU Member States were supported to welcome and find accommodation for those fleeing Ukraine, provide them with food, clothing and other basic material assistance.