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The first countries, the Netherland and Austria, to make use of REACT-EU, Source: European Commission

Netherlands and Austria receive 262 million euros for recovery and transition

Netherlands and Austria receive 262 million euros for recovery and transition

The first countries to make use of REACT-EU

Yesterday, 6 April 2021, the European Commission agreed on the first decisions under REACT-EU (Recovery Assistance for Cohesion and the Territories of Europe) involving four operational programmes of the European Regional Development Fund (ERDF) in the Netherlands and Austria.

The funding of 262 million euros will increase the investments from REACT-EU and will make the Netherlands and Austria the first EU countries to benefit from the plan.

“The resources under REACT-EU are of crucial importance for the recovery of the economy. Meanwhile, we are working fast forward to approve the programming decisions for this funding. I encourage all Member States to move as quickly as possible with their submissions so that additional funding can start flowing for a green, digital and cohesive recovery,” said Elisa Ferreira, Commissioner for Cohesion and Reforms.

Four operational programmes for a green, digital and cohesive recovery

In the Netherlands, three operational programmes will help raise the EU co-financing rate and facilitate investments in the green and digital transformation, adding to the regional economy's resilience in the North, East, and South regions of the country. This is consistent with the REACT-EU priorities as well as the country-specific guidelines for 2020.

The operational programme in North Netherlands would help future-oriented investments in innovation to make businesses more resilient and competitive. The investments would help with social transformations related to a circular economy, renewable energy, digitalisation, and health.

In East Netherlands, it will allow further development and market introduction of new technologies and processes while also supporting the market eco-system. Investing in the circular economy, renewable resources, or sustainable materials, would also be supplemented to support digital innovation initiatives in the healthcare field.

The operational programme is designed to help advance the renewable and digital growth of the South Netherlands. These investments are planned to impact five major transitions in electricity, raw materials, agriculture, and food, and healthcare.

In Austria, the ERDF's amendment promotes science and engineering skills, offers investment funding to companies (including high-level advanced, green and digital projects) and encourages energy conservation and the exploitation of renewable energies.

What comes next is a continuation and expansion of the crisis response as part of NextGenerationEU and repair steps provided through the Coronavirus Response Investment Initiative packages, which will serve as a bridge to the long-term recovery plan. The Commission intends to amend further REACT-EU operating projects in the coming weeks.

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