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COREPER AGREEMENT ON SOLIDARITY FUND.

The Committee of Permanent Representatives (Coreper) approved, on 12 March, a compromise drawn up by the Greek EU Presidency and the European Parliament on new rules for the EU Solidarity Fund. This fund, which provides aid to regions struck by major natural disasters, has a budget of 500 million a year until 2014. The compromise, which must still be approved by the European Parliament's Committee on Regional Development (DEVE) on 19 March, clarifies the threshold for intervention in case of a regional disaster: damage must equal 1.5% of regional GDP. For major disasters, the criteria remain unchanged: damage must equal 3 billion, or 0.6% of the gross national income of the state concerned. The agreement also provides that regions may now request advance payments - without waiting for a definitive decision on aid - to meet the most urgent costs.

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Title Annotation:Committee of Permanent Representatives
Publication:European Report
Article Type:Brief article
Geographic Code:4E
Date:Mar 13, 2014
Words:140
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