Vote on prolonging top-up in EU funding for projects in Greece and Cyprus
Plans to prolong a 10% increase in the EU contribution towards project costs in Greece until 30 June of the year following the end of its economic adjustment programme will be put to the plenary vote on Tuesday. MEPs will also vote on a special provision whereby the EU would pay up to 85% of project costs in Cyprus until the closure of the 2014-2020 programmes.
Article 24 of the Common Provisions Regulation allows the EU Commission to make increased payments under European Structural and Investment Fund (ESFI) programmes - so called “top-ups” - to countries experiencing economic difficulties. As their national budgets cannot cope with the required national co-financing of agreed projects, they run the risk of losing EU funds all together, at times when they need it most.
At a member state’s request, interim payments may be increased by 10 percentage points above the co-financing rate applicable to each priority for the European Regional Development Fund (ERDF), European Social Fund (ESF) and the Cohesion Fund or to each measure for the European Agricultural Fund for Rural Development (EAFRD) and the European Maritime and Fisheries Fund (EMFF).
These “top-ups” do not change the overall ESFI allocations in 2014-2020.
Procedure: ordinary legislative procedure
Vote: Tuesday, 25 October
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