The Commission published today a report which revealed that the rate of investment of the five European Structural and Investment Funds (ESI Funds) in the EU has increased considerably in the past two years, from 28% of the total budget in 2018 to 56% at the end of 2020. This shows that the use of structural funds supporting investment in Europe has sped up, despite the exceptional circumstances of the coronavirus crisis.

This was one of the consequences of the flexibility introduced in the Cohesion policy legislation provided by the Coronavirus Response Investment initiatives (CRII and CRII+) allowing the Member States to redirect unspent resources to the areas most in need of support. With this measure, more than €22 billion were used to support healthcare sectors, SMEs, employment and vulnerable population groups in almost all Member States. Until now, 1.6 million businesses have received support to expand, innovate and launch new products, and more than 13 million investment projects have been selected for EU support across Europe.

The ESI Funds represent €463 billion over the 2014-2020 period and have mobilised a total investment of €644 billion. Their goal is to promote stable socio-economic convergence, resilience and territorial cohesion. The ESI Funds are the main source of funding for several major objectives of the Von der Leyen Commission. Support for a low-carbon economy as well as for the environment and climate change mitigation and adaptation helps to achieve the ambitious objectives of the European Green Deal. The investments supporting broadband rollout, digital transformation of the economy and technologies, services and skills help to achieve the objective of making Europe fit for the digital age. Supporting enterprises to become more productive and competitive, investing in health and social care, education, skills and housing, as well as addressing particular challenges faced by rural areas and their inhabitants help to build an economy that works for people.

B2EU Consulting can help private or public actors to gain access to means of financial or legislative support. Our boutique consulting firm is specialized in European funds and can assist industries with positioning themselves favourably for financial support and a smooth transition to a greener future.

Image © European Parliament, 2020