REACT-EU: Following the coronavirus pandemic, the European Commission launched a comprehensive and ambitious recovery plan. The REACT-EU regulation was adopted on 23 December 2020.
The Commission has approved €654 million to Spain and Hungary under REACT-EU following the modification of two European Social Fund (ESF) Operational Programmes (OP).
In Spain, the OP in Valencia will receive an additional €404 million to provide financial incentives to employers for job creation and maintaining employment, as well as for financial support for the self-employed, and funds to hire additional staff in care centers in the context of the coronavirus pandemic. These resources will also support the social and labour market integration of vulnerable people and vocational training for young people.
In Hungary, the national OP ‘Human Resource Development’ will receive an additional €250 million for purchasing 13 million doses of COVID-19 vaccines authorised by the European Medicines Agency. The additional funding will also be used to provide financial compensation to around 7,000 doctors and nurses who worked extra hours during the pandemic.
REACT-EU is part of NextGenerationEU and provides €50.6 billion additional funding (in current prices) over the course of 2021 and 2022 to Cohesion policy programmes. Measures focus on supporting labour market resilience, jobs, SMEs and low-income families, as well as setting future-proof foundations for the green and digital transitions and a sustainable socio-economic recovery.
