REACT-EU stands for Recovery Assistance for Cohesion and the Territories of Europe and is an initiative that will contribute to a green, digital and resilient recovery of the economy in the aftermath of the corona crisis. It is a financial top-up to the traditional cohesion programs.
The REACT-EU package for all member states includes €55 billion of additional funds that will be made available to the 2014-2020 European Regional Development Fund (ERDF) and the European Social Fund (ESF) as well as the European Fund for Aid to the Most Deprived (FEAD).
REACT-EU funds are distributed among Member States taking into account their relative prosperity and the magnitude of the impact of the current crisis on their economies and societies. Of the € 37.5 billion distributed in 2021, € 245 million will flow to Belgium. The other resources will be distributed in 2022.
Flanders can count on € 115 million according to the intra-Belgian distribution. Of this amount, € 80 million is allocated to ESF and € 30 million to ERDF. The rest of the funds are used as Technical Assistance (support management and program implementation).
Flanders Audit Authority will perform the audits on the Flemish ESF and ERDF projects that receive REACT-EU funds.