Launched in 2020 as an extension to cohesion policy’s crisis response and crisis repair measures, the Recovery Assistance for Cohesion and the Territories of Europe (REACT-EU) initiative represents a significant addition to the EU funding Member States can access to manage difficulties arising from the pandemic.
REACT-EU funds will be vital to prevent the widening of disparities and to avoid an uneven recovery process. These funds will enable Member States to continue to focus on rebuilding the resilience of healthcare systems, restoring labour markets, supporting workers and enterprises and addressing the social impact of the crisis – while preparing future-proof foundations of recovery. REACT-EU will ensure Europe continues to develop a green, digital, inclusive and resilient economy.
This initiative will work to bridge the gap between the immediate crisis response under the 2014-2020 EU Structural Funds, and long-term recovery programmes under the 2021-2027 cohesion policy. It includes € 47.5 billion of additional funds that will be made available to the 2014-2020 European Regional Development Fund (ERDF), the European Social Fund (ESF) as well as the European Fund for Aid to the Most Deprived (FEAD) and the Youth Employment Initiative (YEI). These additional funds will be provided in 2021-2022 via the NextGenerationEU temporary recovery instrument.
The package will provide additional funding for existing of new dedicated programmes under the Investment for Growth and Job goal (IGJ) and for existing cross- border cooperation programmes under the European territorial cooperation goal.