The European Commission has approved EUR 173.2 million in additional support for Estonia via its cohesion policy funding.
The extra funding results from changes to the Recovery Assistance for Cohesion and the Territories of Europe (REACT-EU) funding, which aims to revitalize the economy, mitigate the effects of the COVID-19 crisis and support transition to a digital and green economy.
Estonia joins two other EU nations, Bulgaria and Germany, in receiving REACT-EU funding, totaling EUR 367.4 million.
Overall, REACT-EU provides a top-up of EUR 47.5 billion (EUR 50.5 billion in current prices) to cohesion policy programs 2021-2022 and is part of the NextGenerationEU stimulus package, and is targeted at the labor market, employment, small businesses and those on low incomes, in addition to the green and digital transitions. (ERR/Business World Magazine)