Council greenlights €6.2bn budget increase for 2020

The money will be used as well for development and deployment of a Covid-19 vaccine

Addressing the impact of the coronavirus crisis and for funding inter alia the vaccine strategy, the Council adopted on Friday draft amending budget No 8 for 2020 by written procedure.

To ensure the development and deployment of a Covid-19 vaccine, the revised sum increases payments for the Emergency Support Instrument (ESI) by €1.09bn. The Commission will use this money as a down-payment for pre-ordering vaccine doses.

Draft amending budget also boosts payments by €5.1bn for the Corona Response Investment Initiative (CRII) and the Corona Response Investment Initiative Plus (CRII+). The money will be used to cover the additional needs for cohesion funding forecast until the end of the year. The CRII redirects unspent money from the EU budget to tackling the COVID-19 crisis, whilst the CRII+ relaxes the cohesion spending rules to increase flexibility.

During its plenary next week, the European Parliament is expected to agree on its position on the draft amending budget proposal. Once there is an agreement, the draft amending budget will enter into force.

 

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