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EU SOLIDARITY FUND TO THE RESCUE IN SWEDEN, ESTONIAN LATVIA AND LITHUANIA.

Nearly euro 93 million from the EU solidarity fund is to be released to provide help to Sweden, Estonia, Latvia and Lithuania, which all suffered severe damage by a wind storm on January 8. This decision was taken by the EU Council of Ministers on November 7. In line with the rules of the Solidarity Fund, the Commission will present an amended budget in order to include this aid in the budget for 2005. The money will be allocated as follows: euro 81.73 million to Sweden (with estimated damage of euro 2.3 billion), euro 9.49 million to Latvia (estimated damage of euro 192.5 million), euro 1.29 million to Estonia (with estimated damage of euro 49 million) and euro 370,000 to Lithuania (estimated damage of a little more than euro 2.3 billion). The EU Solidarity Fund, created in 2002, has an annual budget of euro 1 billion. It is used to provide emergency aid to member states and accession candidate countries in the event of major disasters which impact significantly on living conditions, the natural environment or the economy.

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Publication:European Report
Article Type:Brief Article
Geographic Code:4EXES
Date:Nov 9, 2005
Words:185
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