PURPOSE: to alleviate, in light of the recent floods and wildfires in Central, Eastern and Southern Europe, the negative socio-economic consequences of natural disasters.
LEGISLATIVE ACT: Regulation (EU) 2024/3236 of the European Parliament and of the Council amending Regulations (EU) 2021/1057 and (EU) 2021/1058 as regards Regional Emergency Support to Reconstruction (RESTORE).
CONTENT: the recent floods and forest fires in Central, Eastern and Southern Europe have had a devastating impact on the populations living in these regions. Extensive reconstruction works will be required in many cities, towns and villages to repair damaged infrastructure and equipment. Immediate measures are needed to alleviate the social and economic consequences of those natural disasters.
In parallel with the Regulation amending Regulation (EU) 2020/2220 governing the European Agricultural Fund for Rural Development (EAFRD), this Regulation amends the Regulation governing the European Regional Development Fund (ERDF) and the Cohesion Fund, as well as the Regulation establishing the European Social Fund Plus (ESF+) for the 2021-2027 programming period, in order to allow Member States to reprogramme funds for RESTORE priorities.
The Regulation provides additional assistance to Member States affected by natural disasters in 2024 and 2025, covering measures such as the rehabilitation of damaged infrastructure and equipment, the provision of food and basic material assistance, and healthcare support. Short-time work schemes allowing employees and self-employed persons affected by the consequences of natural disasters to retain their jobs in the absence of active measures may also be put in place where strictly necessary and justified.
The ERDF will be able to finance reconstruction projects up to 95% of their total cost. In order to provide rapid liquidity to those in need, additional pre-financing of up to 25% of the total amount will also be made available.
The overall resources available for reprogramming under RESTORE are capped at 10% of the initial total national allocation of ERDF and ESF+.
ENTRY INTO FORCE: 24.12.2024.