{"id":148996,"date":"2024-02-05T03:00:39","date_gmt":"2024-02-05T02:00:39","guid":{"rendered":"https:\/\/www.cde.ual.es\/?p=148996"},"modified":"2024-02-02T13:47:32","modified_gmt":"2024-02-02T12:47:32","slug":"eu-leaders-greenlight-e64-6-billion-in-additional-funding","status":"publish","type":"post","link":"https:\/\/www.cde.ual.es\/en\/eu-leaders-greenlight-e64-6-billion-in-additional-funding\/","title":{"rendered":"EU leaders greenlight \u20ac64.6 billion in additional funding"},"content":{"rendered":"<p style=\"text-align: justify;\">EU leaders greenlit additional funding for the\u00a0<strong>multiannual financial framework 2021-2027<\/strong>\u00a0and discussed support for\u00a0<strong>Ukraine<\/strong>.<\/p>\n<p><a href=\"https:\/\/www.cde.ual.es\/wp-content\/uploads\/2022\/06\/council-31-scaled.jpg\"><img decoding=\"async\" class=\"aligncenter size-full wp-image-108798\" src=\"https:\/\/www.cde.ual.es\/wp-content\/uploads\/2022\/06\/council-31-scaled.jpg\" alt=\"\" width=\"2560\" height=\"1708\" srcset=\"https:\/\/www.cde.ual.es\/wp-content\/uploads\/2022\/06\/council-31-scaled.jpg 2560w, https:\/\/www.cde.ual.es\/wp-content\/uploads\/2022\/06\/council-31-300x200.jpg 300w, https:\/\/www.cde.ual.es\/wp-content\/uploads\/2022\/06\/council-31-1024x683.jpg 1024w, https:\/\/www.cde.ual.es\/wp-content\/uploads\/2022\/06\/council-31-768x512.jpg 768w, https:\/\/www.cde.ual.es\/wp-content\/uploads\/2022\/06\/council-31-1536x1025.jpg 1536w, https:\/\/www.cde.ual.es\/wp-content\/uploads\/2022\/06\/council-31-2048x1366.jpg 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><\/p>\n<p style=\"text-align: justify;\">They also discussed the situation in the\u00a0<strong>Middle East<\/strong>\u00a0and\u00a0<strong>agriculture<\/strong>, and paid tribute to former European Commission President\u00a0<strong>Jacques Delors<\/strong>, who passed away on 27 December 2023.<\/p>\n<h3 style=\"text-align: justify;\"><strong>Mid-term revision of EU long-term budget 2021-2027<\/strong><\/h3>\n<p style=\"text-align: justify;\">As a follow-up to their meeting in December, EU leaders discussed the mid-term revision of the multiannual financial framework (MFF) 2021-2027. In this context, the leaders agreed\u00a0<strong>to greenlight additional funding<\/strong>\u00a0for a limited number of priority areas through a mix of\u00a0<strong>new and existing funds<\/strong>.<\/p>\n<p style=\"text-align: justify;\">The additional funding covers support for\u00a0<strong>Ukraine<\/strong>,\u00a0<strong>migration<\/strong>\u00a0and the external dimension, the\u00a0<strong>strategic technologies for Europe platform (STEP)<\/strong>,\u00a0<strong>Next Generation EU interest payments<\/strong>, special instruments, new own resources and elements that reduce the impact on national budgets.<\/p>\n<p style=\"text-align: justify;\">Of the total amount,\u00a0<strong>\u20ac33 billion are loans<\/strong>\u00a0and\u00a0<strong>\u20ac10.6 billion are redeployments\u00a0<\/strong>from existing funding. The extra funding should be distributed as follows:<\/p>\n<ul style=\"text-align: justify;\">\n<li>\u20ac50 billion for the Ukraine Facility (\u20ac17 billion in grants and \u20ac33 billion in loans)<\/li>\n<li>\u20ac2 billion for migration and border management<\/li>\n<li>\u20ac7.6 billion for the neighbourhood and the world<\/li>\n<li>\u20ac1.5 billion for the European Defence Fund under the new STEP instrument<\/li>\n<li>\u20ac2 billion for the flexibility instrument<\/li>\n<li>\u20ac1.5 billion for the solidarity and emergency aid reserve<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">Next, the Council of the EU and the European Parliament need to adopt the mid-term revision.<\/p>\n<p style=\"text-align: justify;\">In parallel, they will adopt the Ukraine Facility and the STEP.<\/p>\n<p style=\"text-align: justify;\"><strong>Ukraine Facility<\/strong><\/p>\n<p style=\"text-align: justify;\">To provide stable and predictable financing to Ukraine, the leaders agreed to set up the Ukraine Facility for the years 2024-2027. It is a new EU instrument to help the country in its recovery, reconstruction and modernisation on its path towards EU accession.<\/p>\n<p style=\"text-align: justify;\">Of the total\u00a0<strong>\u20ac50 billion available<\/strong>, \u20ac33 billion are in loans, and \u20ac17 billion are in grants (under a new thematic instrument, known as the Ukraine Reserve).<\/p>\n<p style=\"text-align: justify;\">To ensure Ukraine\u2019s ownership of its recovery and reconstruction, the Ukrainian government needs to\u00a0<strong>prepare a plan<\/strong>\u00a0that sets out a reform and investment agenda. To obtain the funding, Ukraine must also uphold and respect:<\/p>\n<ul style=\"text-align: justify;\">\n<li>democratic mechanisms, including a multi-party parliamentary system<\/li>\n<li>the rule of law<\/li>\n<li>human rights, including the rights of persons belonging to minorities<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">In addition, the Commission and Ukraine need to protect the EU\u2019s financial interests, particularly by countering fraud, corruption and conflicts of interest.<\/p>\n<p style=\"text-align: justify;\">The Council will play a key role in the governance of the Ukraine Facility and the European Council will hold a debate every year on the implementation of the facility, on the basis of a Commission report. If necessary, in two years&#8217; time the European Council will invite the Commission to make a proposal for a review in the context of the next MFF.<\/p>\n<p style=\"text-align: justify;\"><strong>Migration and the external dimension<\/strong><\/p>\n<p style=\"text-align: justify;\">To support member states and tackle urgent challenges related to\u00a0<strong>migration and border management<\/strong>, the leaders agreed to reinforce the budget by\u00a0<strong>\u20ac2 billion.\u00a0<\/strong>They also invited the Commission and member states to further explore the possibility of using\u00a0<strong>cohesion funds<\/strong>\u00a0to address migration challenges.<\/p>\n<p style=\"text-align: justify;\">In the context of extraordinary geopolitical tensions, the leaders also greenlit\u00a0<strong>\u20ac7.6 billion<\/strong>\u00a0to underpin priorities for the EU\u2019s neighbourhood and the world. The funding should help to:<\/p>\n<ul style=\"text-align: justify;\">\n<li>maintain effective migration cooperation outside the EU<\/li>\n<li>support Syrian refugees in T\u00fcrkiye and the broader region<\/li>\n<li>support the Western Balkans, the Southern neighbourhood and Africa<\/li>\n<li>ensure enough funding for the EU&#8217;s neighbourhood, development and international cooperation instrument (NDICI)<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><strong>Strategic technologies for Europe platform (STEP)<\/strong><\/p>\n<p style=\"text-align: justify;\">To ensure the EU\u2019s\u00a0<strong>strategic sovereignty<\/strong>\u00a0and help make the European Union more\u00a0<strong>competitive<\/strong>, the leaders agreed to set up a new platform for strategic technologies for Europe (STEP).<\/p>\n<p style=\"text-align: justify;\">To finance STEP-related priorities, the platform will make use of\u00a0<strong>existing funding<\/strong>. This will help scale up support and investment opportunities for\u00a0<strong>critical technologies<\/strong>\u00a0that are relevant for the green and digital transitions,<\/p>\n<p style=\"text-align: justify;\">To boost defence investment capacity, leaders also agreed to allocate an additional\u00a0<strong>\u20ac1.5 billion<\/strong>\u00a0to the\u00a0<strong>European Defence Fund<\/strong>\u00a0under the STEP.<\/p>\n<p style=\"text-align: justify;\"><strong>Next Generation EU interest payments<\/strong><\/p>\n<p style=\"text-align: justify;\">To cover additional costs and fulfil the EU\u2019s legal obligation related to NGEU interest payments, leaders agreed on a cascade mechanism.<\/p>\n<p style=\"text-align: justify;\">If financing for the interest payments cannot be found within the existing EU budget, a new instrument that goes beyond the maximum amounts for the current MFF can be introduced.<\/p>\n<p style=\"text-align: justify;\">As part of the\u00a0<strong>annual budgetary procedure<\/strong>, the Council will assess whether the financing solutions for the NGEU interest payments, including the new instrument and the application of a backstop, are appropriate, before adopting its position.<\/p>\n<p style=\"text-align: justify;\">In this context, the ceiling for the global amount of another instrument &#8211;\u00a0<strong>the flexibility instrument\u00a0<\/strong>&#8211; will be increased by\u00a0<strong>\u20ac2 billion<\/strong>. The flexibility instrument can be used to finance actions that cannot be funded via other budget sources.<\/p>\n<p style=\"text-align: justify;\"><strong>Solidarity and emergency aid reserve<\/strong><\/p>\n<p style=\"text-align: justify;\">To tackle emergency situations such as natural disasters and humanitarian crises in the EU and worldwide, EU leaders agreed to increase funding by\u00a0<strong>\u20ac1.5 billion.\u00a0<\/strong>They also agreed to split the funding into two separate instruments:<\/p>\n<ul style=\"text-align: justify;\">\n<li>approximately \u20ac1 billion per year for the European solidarity reserve, to respond to emergency situations in Europe<\/li>\n<li>approximately \u20ac500 million per year for the emergency aid reserve for rapid responses to specific emergency situations in the EU and worldwide<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">The annual amounts not used in either of the instruments can be made available to the flexibility instrument the following year.<\/p>\n<p style=\"text-align: justify;\"><strong>Solidarity and emergency aid reserve<\/strong><\/p>\n<p style=\"text-align: justify;\">To tackle emergency situations such as natural disasters and humanitarian crises in the EU and worldwide, EU leaders agreed to increase funding by\u00a0<strong>\u20ac1.5 billion.\u00a0<\/strong>They also agreed to split the funding into two separate instruments:<\/p>\n<ul style=\"text-align: justify;\">\n<li>approximately \u20ac1 billion per year for the European solidarity reserve, to respond to emergency situations in Europe<\/li>\n<li>approximately \u20ac500 million per year for the emergency aid reserve for rapid responses to specific emergency situations in the EU and worldwide<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">The annual amounts not used in either of the instruments can be made available to the flexibility instrument the following year.<\/p>\n<p style=\"text-align: justify;\"><strong>Support for Ukraine<\/strong><\/p>\n<p style=\"text-align: justify;\">The leaders reaffirmed the\u00a0<strong>EU\u2019s steadfast support for Ukraine.<\/strong>\u00a0The EU will continue to support Ukraine and its people for as long as it takes, including through political, financial, humanitarian, military and diplomatic means.<\/p>\n<p style=\"text-align: justify;\">The leaders stressed the importance of providing predictable and sustainable\u00a0<strong>military support<\/strong>\u00a0to Ukraine, notably through:<\/p>\n<ul style=\"text-align: justify;\">\n<li>the European Peace Facility<\/li>\n<li>the EU military assistance mission<\/li>\n<li>direct bilateral support from EU member states<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">In this context, they invited the Council to reach an agreement by early March on increasing the financial ceiling of the European Peace Facility. They also called on member states to accelerate efforts to deliver ammunition to Ukraine.<\/p>\n<p style=\"text-align: justify;\">The leaders will continue the discussions on security and defence in Ukraine, as well as Europe\u2019s need to further strengthen its own defence readiness, at the next European Council meeting on 21 and 22 March 2024.<\/p>\n<p style=\"text-align: justify;\">The European Council also welcomed the agreement to use financial revenues stemming from frozen Russian assets for Ukraine\u2019s reconstruction, which allows the High Representative and the Commission to prepare the next steps.<\/p>\n<p style=\"text-align: justify;\"><strong>Agriculture<\/strong><\/p>\n<p style=\"text-align: justify;\">EU leaders discussed challenges in the agricultural sector, including concerns raised by farmers.<\/p>\n<p style=\"text-align: justify;\">Stressing the essential role of the common agricultural policy leaders called on the Council and the Commission to take work forward as necessary. The European Council will keep the situation under review.<\/p>\n<p style=\"text-align: justify;\"><strong>Middle East<\/strong><\/p>\n<p style=\"text-align: justify;\">The leaders held a debate on the situation in the Middle East.<\/p>\n<div class=\"clearfix\">\n<div class=\"col-sm-12 text-center margin-y-30 downriver-color\" style=\"text-align: justify;\"><strong>More information: <a href=\"https:\/\/www.consilium.europa.eu\/en\/meetings\/european-council\/2024\/02\/01\/\">European Council<\/a><\/strong><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>EU leaders greenlit additional funding for the\u00a0multiannual financial framework 2021-2027\u00a0and discussed support for\u00a0Ukraine. They also discussed the situation in the\u00a0Middle East\u00a0and\u00a0agriculture, and paid tribute to former European Commission President\u00a0Jacques Delors, who passed away on 27 December 2023. Mid-term revision of EU long-term budget 2021-2027 As a follow-up to their meeting in December, EU leaders discussed [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":108797,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[4090,346,4064,4078,4088],"tags":[469,10234,11414,5903,5005],"class_list":{"0":"post-148996","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy-finance","8":"category-eu-news","9":"category-institutional","10":"category-internat-safety-pol","11":"category-market","12":"tag-budget","13":"tag-eu-leaders","14":"tag-long-term-budget","15":"tag-middle-east","16":"tag-ukraine","17":"entry"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>EU leaders greenlight \u20ac64.6 billion in additional funding | CDE Almer\u00eda - Centro de Documentaci\u00f3n Europea - Universidad de Almer\u00eda<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.cde.ual.es\/los-dirigentes-de-la-ue-dan-luz-verde-a-una-financiacion-adicional-de-64-600-millones-de-euros\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EU leaders greenlight \u20ac64.6 billion in additional funding | CDE Almer\u00eda - Centro de Documentaci\u00f3n Europea - Universidad de Almer\u00eda\" \/>\n<meta property=\"og:description\" content=\"EU leaders greenlit additional funding for the\u00a0multiannual financial framework 2021-2027\u00a0and discussed support for\u00a0Ukraine. 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