This is a very important moment. I am here to reassure you that Europe stands by your side. Faced with natural disasters, we all have to stand together. It was for me, on one hand, heartbreaking to see the destruction and the devastation through the floods. But I must also say, it was, on the other hand, heart-warming to see the enormous solidarity between the people in your countries, the countless volunteers tirelessly helping day and night to overcome this disaster. Europe is by your side, and we have indeed discussed how we can help and support as fast and as flexible as possible.
First of all, in the crisis itself, our Copernicus European satellite system helped you have a clear view on what was unfolding and how the floods were advancing. Some of you have triggered the Civil Protection Mechanism, which is bringing in-kind help to the affected countries. But of course, the most pressing question is: Can we help with funding to repair and reconstruct?
We have two sources. It is very important that we mobilise whatever is possible. On one hand, there is the Solidarity Fund, which we can use to rebuild infrastructure, like roads, highways, railways, and bridges, for example. But I think this will not be sufficient when we see the enormous size of the disaster.
So we have discussed that we will do a bold step forward with cohesion funds. You need maximum flexibility, and you need speed. And therefore, we will mobilise cohesion funds in a flexible and targeted way, where you need them most.
Second, you can use them as pre-financing. So first, the money flows and you can invest it.
And third, normally cohesion fund goes with co-financing from the Member States. Here, we can do 100% European money – no co-financing. These are extraordinary times and extraordinary times need extraordinary measures. At first sight, EUR 10 billion could be mobilised from the cohesion funds for the countries that are affected. This is now an emergency reaction.
Thank you very much again for the fast convening of this group. And of course, we stand by your side also in the months and years to come when it comes to recovering and repairing.
