RESTORE: Amendment to Regulations (EU) 2021/1058 and 2021/1057

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.