REACT-EU stands for Recovery Assistance for Cohesion and the Territories of Europe and is an initiative that continues and extends the crisis response and crisis repair measures delivered through the Coronavirus Response Investment Initiative and the Coronavirus Response Investment Initiative Plus. REACT-EU provides a €55bn additional investment under the investment for growth and jobs goal. €5bn will be allocated in October 2020 with the remainder being allocated in 2021/22. Allocations will be made at Member State level for distribution between the ERDF, ESF and the Fund for European Aid to the Most Deprived (FEAD).
These additional resources should be directed to primarily support:
- Maintaining jobs, including through short-time work schemes and support to self-employed to protect their income
- Creating new jobs, in particular for people in vulnerable situations
- Youth employment measures
- Education and training
- Skills development, in particular, to support the twin green and digital transitions
- Measures to enhance access to social and health care services, including for children
Further information on REACT-EU can be found at https://ec.europa.eu/commission/presscorner/detail/en/QANDA_20_948.