Region: Just Transition Fund decreased

4. August 2020. / SEE Energy News

The European Council approved only 10 billion euros for the Just Transition Fund, reducing the final sum from the proposed 32.5 billion euros. The Council reached an agreement on the seven-year budget through 2027 including a mechanism for the recovery from the effects of the coronavirus pandemic worth 750 billion euros.

In the final 2021-2027 EU budget, a total of 17.5 billion euros was allocated for the Just Transition Fund, which mainly aimed at phasing out coal. Earlier proposal envisaged that 40 billion euros will be allocated, from which some 10 billion euros was intended for southeast European countries.

According to earlier proposal the distribution of 10 billion euros from the Just Transition Fund among SEE countries should be: Romania – 4.4 billion euros, Bulgaria – 2.7 billion, Greece – 1.7 billion, Slovenia – 538 million and Croatia – 387 million euros.

 

 

 

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