The EU Parliament gave the go-ahead to an increase in the EU budget of EUR 6.2 billion Thursday, to improve the chances of an effective and safe vaccine, and to step up COVID-19-related cohesion funding. Cohesion funds will be topped up with €5.1 billion to ensure that requests for reimbursements from EU Member States for actions taken under the Coronavirus Response Investment Initiative Plus (CRII+) can be covered.
The CRII+ was created to relax the cohesion spending rules to increase flexibility, whereas the CRII redirected unspent money from the EU budget to tackling the COVID-19 crisis.
The vaccine-related EUR 1.1 billion will increase payments for the Emergency Support Instrument (ESI), a significant part of which is used to secure the production of vaccines in the EU and sufficient supplies for its member states. This is part of the European Commission’s COVID-19 vaccine strategy.
Source: EUbusiness
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