RESTORE: a new European fund to help disaster-stricken regions

In brief

On 17 December 2024, the European Parliament adopted a new regulation entitled RESTORE (Regional Emergency Support to Reconstruction). This text makes it possible to quickly release European funds to help regions affected by natural disasters, such as floods or fires, to rebuild.

Background

The European Union already has funds to support regions, notably the European Regional Development Fund (ERDF) and the European Social Fund Plus (ESF+). But in the event of a disaster, the usual procedures are too slow. RESTORE aims to speed up the payment of aid by relaxing existing rules.

What was decided

Parliament approved the European Commission's proposal, with some amendments. Specifically:

• Increased flexibility: disaster-stricken regions can more easily reallocate unused ERDF and ESF+ funds to reconstruction.
• Higher co-financing rate: the EU can finance up to 100% of projects, instead of the usual 85%.
• Shorter deadlines: administrative procedures are simplified so that money arrives faster.

The final text is the result of an agreement between Parliament and the Council (the Member States). It is therefore already applicable.

Vote result

The vote was taken by a show of hands, without individual count. The proposal was adopted.

What this means for citizens

If your region is hit by a natural disaster, RESTORE will allow faster reconstruction of infrastructure (roads, schools, hospitals) and support local employment. Businesses will be able to obtain aid more easily, and public services will be restored more quickly. In short, Europe reacts more effectively to crises.