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Lisbon ,  July 21, 2020

European Council agreement is "ambitious solution" to address post-pandemic challenges, says Vasco Cordeiro

The President of the Government considered that the agreement reached today at the European Council is a “bold and ambitious solution” to address the challenges of the regions caused by the COVID-19 pandemic, defending the quick implementation of the financing agreed in Brussels. 

“In view of one of the greatest challenges the European Union has ever faced, the Heads of State and Government of the 27 member countries have achieved a bold and ambitious solution, which is essential for a renewed hope of citizens in the European project,” said Vasco Cordeiro, who is also First Vice-President of the Committee of the Regions. 

According to the President of the Government, it is necessary that both the 750 billion-Euro Recovery Plan approved at this European Council meeting to face the effects of the COVID-19 pandemic and the programmes that make up the next Financial Framework Multiannual “reach the Member States and regions without delay,” considering of urgency of safeguarding employment and economic recovery. 

“The maintenance and reinforcement of the Cohesion Policy for the next seven years under next Multiannual Financial Framework for 2021-2027 is also a very positive aspect, bearing in mind that it is the main investment tool in the regions with direct effects in the lives of citizens," stressed the President of the Government. 
“In this matter, a word of recognition and praise is also due to Prime Minister António Costa for his strong defence of the Cohesion Policy from the very first hour, advocating its importance for the economic and social development of regions,” said Vasco Cordeiro. 

According to Vasco Cordeiro, after this fundamental step, it is necessary to implement all the regulations so that the Multiannual Financial Framework becomes effective on January 1, 2021. 

The President of the Government also highlighted the fact that it was possible to maintain co-financing rates at 85 percent for the regions under the Cohesion Policy, a fundamental issue for the Region in this process of defining the new Community budget. 

The Heads of State and Government of the 27 Member States approved this morning a proposal presented by the President of the European Council, Charles Michel, providing for a Community budget of 1.074 billion Euros for the next seven years as well as the financing of 750 billion Euros for the economic recovery of the European Union.


Official government press-releases presented in all foreign languages interfaces of the Azorean Government Portal (Portal do Governo dos Açores) are a sub-set of the government's official press-releases daily output and are chosen for translation and publication on the foreign language interfaces based on audience segmentation criteria. The entire collection of the Azorean government press-releases is available in portuguese, here, from the GACS Press Office site.

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