Econostrum | Economic News in the Mediterranean



The European Commission proposes 530 M€ for emergency measures against Covid-19

The European Commission is using its Solidarity Fund to help countries fight the pandemic (photo: C.Garcia)
The European Commission is using its Solidarity Fund to help countries fight the pandemic (photo: C.Garcia)
EU. The European Commission proposed on Thursday, March 11, 2021, to release an envelope of € 529.34 million as additional support for emergency measures against the coronavirus provided by the European Union Solidarity Fund (EUSF). Created in the summer of 2002 to respond to the consequences of natural disasters, the EUSF was extended in April 2020 to cover major public health emergencies. The European Parliament and Council must now decide and approve this assistance.

This sum would help seventeen Member States*, out of the existing twenty-eight, and three Mediterranean countries in the process of accession: Albania, Montenegro and Serbia. It will be used to finance "part of their public expenditure on medical equipment, personal protection, emergency aid to the population and measures to prevent, monitor and control the spread of the disease", as stated in a European Commission press release.

"Countries are in dire need of this financial assistance"

To be precise, the nearly €530 million includes advances already received by Greece, Spain, Croatia, Portugal, Germany, Ireland and Hungary for a total amount of €132.7 million.

"The EU Solidarity Fund is a concrete manifestation of European solidarity in action. Since its creation, it has provided effective assistance and relief to millions of people in difficult circumstances. Last year, we extended its scope to major health emergencies. We are now proposing to mobilize financial support for the fight against the pandemic, which is sorely needed by countries. This measure is fully in line with the EUSF's primary mission," said Elisa Ferreira, European Commissioner for Cohesion and Reform.

* Croatia, Spain, France, Greece, Italy, Portugal, Austria, Belgium, Czech Republic, Estonia, Germany, Hungary, Ireland, Latvia, Lithuania, Luxembourg, Romania


Distribution of the 530 M€ of EU aid per country

Country Total proposed aid (in euros)
Albania 905 271
Germany 29 147 795
Austria 31 755 580
Belgium 37 298 777
Croatia 7 618 270
Spain 53 483 861
Estonia 3 588 755
France 91 365 053
Greece 8 529 722
Hungary 39 723 926
Ireland 43 759 771
Italy 76 271 930
Lettonia 1 177 677
Latvia 2 828 291
Luxembourg 2 857 025
Montenegro 199 505
Portugal 55 568 181
Romania 13 926 870
Serbia 11 968 276
Czech Republic 17 373 205
Total 529 347 741

Source: European Commission

Eric Apim

Thursday, March 11th 2021

Article read 280 times

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