The European Commission introduced the Coronavirus Response Investment Initiative (CRII) on 13th March 2020 to direct €37 billion under the European Structural Investment Funds (ESIF) to fight the Coronavirus crisis. The European Parliament voted almost unanimously in favour of the Commission proposals on 26th March and the Council adopted the package on 30th March 2020. Regulation EU 2020/460 came into effect on 1st April 2020.
The CRII aims to help Member States fund their coronavirus crisis response. It combines the mobilisation of immediate financial support from the ESIF to address the most pressing needs, with the maximum possible flexibility in the use of the funds. The overarching objective is to use the full portfolio of funding options under the EU budget to support Member States – with maximum flexibility, minimum additional administrative work, and as quickly as possible.
What this means for the ESF:
More information on the CRII is available at https://ec.europa.eu/commission/presscorner/detail/en/qanda_20_458
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