Amendment to Regulation (EU) 2021/1058 (+1 more)
This new regulation, called RESTORE, aims to provide emergency support for reconstruction efforts across regions affected by disasters. It modifies existing EU funding rules to allow for quicker and more targeted assistance. The regulation will primarily affect regions and Member States that experience significant damage from natural disasters or other major disruptive events. It also impacts managing authorities responsible for implementing EU funds. RESTORE introduces a new mechanism for channeling emergency funds, potentially allowing for faster access to financial aid for reconstruction. It amends existing regulations on European Structural and Investment Funds to facilitate this. The European Parliament adopted its position on this proposal on December 17, 2024. The Council has also agreed to approve Parliament's position, paving the way for the final adoption of the regulation.
Analysis
The proposal aims to amend Regulation (EU) 2021/1058 and Regulation (EU) 2021/1057 to provide regional emergency support for reconstruction.
What changes
- Introduces the RESTORE – Regional Emergency Support to Reconstruction mechanism.
- Amends Regulation (EU) 2021/1058 and Regulation (EU) 2021/1057.
Expected impact
- The proposal provides additional assistance and flexibility to Member States for their cohesion policy programmes in response to natural disasters.
- The proposal leads to a partial frontloading of payment appropriations in 2025 and 2026, followed by lower payments later.
- There is a concern that using cohesion policy as an emergency response tool risks undermining its longer-term policy and investment objectives.
Limitations
- The document does not contain specific details on the exact amount of funding allocated for the RESTORE mechanism.
- The document does not provide a detailed breakdown of how the 'build back better' principle will be implemented in practice.
- The document does not include an impact assessment on the proposal's effect on climate spending requirements.
Shadow Rapporteurs
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