Global Water Partnership - a water secure world via flickr
“These are exceptional circumstances, and exceptional circumstances require exceptional actions. Initially, it is possible to access 10 billion euros from cohesion funds for the countries impacted,” she stated, adding that it is now a matter of responding to an emergency.
Von der Leyen mentioned that a solidarity fund could be utilized for the reconstruction of impaired infrastructure, such as roads, highways, railroads, and bridges.
“I believe that this won't suffice considering the vast extent of the catastrophe,” Von der Leyen further commented. Hence, she stated that a “brave move” is being made with cohesion funds.
At that, the head of the EC clarified that typically, cohesion funds are supplied through co-financing from member states. The President of the European Commission stated that they can use the money at 100% without the need for co-financing.
source: reuters.com
Von der Leyen mentioned that a solidarity fund could be utilized for the reconstruction of impaired infrastructure, such as roads, highways, railroads, and bridges.
“I believe that this won't suffice considering the vast extent of the catastrophe,” Von der Leyen further commented. Hence, she stated that a “brave move” is being made with cohesion funds.
At that, the head of the EC clarified that typically, cohesion funds are supplied through co-financing from member states. The President of the European Commission stated that they can use the money at 100% without the need for co-financing.
source: reuters.com