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She proposed allocating 18 billion euros from EU funds for countries affected by disasters

by AI | 22.Oct 2024 | Europe in brief AI

Countries, including the Czech Republic, are proposed to have the option to draw up to one-third of the allocated funds as pre-financing, so they can quickly direct them to affected areas.

Banknotes worth 100 euros - illustrative image. Photo: Karl-Josef Hildenbrand/dpa

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Brussels – The European Commission today proposed to allocate over 18 billion euros (454 billion crowns) from European Union funds to seven countries affected by devastating floods and fires in September. According to the proposal, countries, including the Czech Republic, should have the option to draw up to a third of the allocated funds in advance financing so that they can quickly direct them to affected areas. Before the affected countries can draw the funds, the proposal must be approved by the European Parliament and the EU Council representing member states.

The head of the EU executive Ursula von der Leyen promised at a September meeting with leaders of Central European countries affected by floods to allocate a ten-billion sum from existing resources in EU funds for developing regions. According to Prime Minister Petr Fiala, two billion (over 50 billion crowns) are to be allocated to the Czech Republic.

“When climate disasters strike, Europe is stronger if it stands together,” the commission president said today about the specific proposal. In addition to the Czech Republic, Poland, Hungary, Slovakia, Austria, and Romania affected by floods, Portugal, which faced catastrophic fires, will also be able to draw from the total sum of over 18 billion.

The Commission expects that countries will be able to use up to 30 percent of their amount immediately, even before the funded projects start. According to Brussels, this is intended to reduce the pressure that damage caused by natural disasters has created on national budgets. The proposal also assumes that no national resources will need to be added to European funding under co-financing. The vast majority (17.7 billion euros) is to be earmarked in a trio of structural funds intended mainly for less developed areas of the EU. The remaining 588 million euros will come from the agricultural and rural development support fund. (October 22)

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