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Council of the EU adopts measures for immediate release of funds

EU Council adopts measures for release of funds

EU Council adopts two acts to release funds from EU budget; amending the structural and investment funds rules and extending the EU Solidarity Fund.

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On 30 March, the Council adopted two legislative acts to release funding from the EU budget for tackling the COVID-19 crisis. One of the acts amends the rules of the structural and investment funds, while the other extends the scope of the EU Solidarity Fund.  This will give member states access to €37 billion of cohesion money to strengthen healthcare systems, as well as support small and medium-sized enterprises, short-term working schemes, and community-based services. Member states will also have greater flexibility to make transfers between cohesion policy programmes in order to redirect resources to where they are most needed.

Should you have any queries or wish to discuss further, please send an email to covid@kpmg.com.mt.

Council of the EU adopts measures for immediate release of funds

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