European Commission and Italy launch first ever EU Regional Trust Fund in response to the Syrian Crisis The European Commission and Italy have signed today the constitutive agreement to launch the first ever EU Regional Trust Fund as a new strategic financing tool to mobilise more aid in response to the Syrian Crisis. The start-up funding provided amounts to 20 million from the EU budget and 3 million from Italy as the first founding donor. Additional funding is foreseen for 2015. The EU Trust Fund will initially focus on support to refugees and host communities in Syrias neighbouring countries. While other already existing Trust Funds for affected countries operate only at a national or sub-national scale, the EU Trust Fund provides a regional scope responding to a regional crisis, thus enabling the EU and its Member States to jointly intervene flexibly and quickly in response to shifting needs during the crisis. The Fund will also bring strong efficiency gains on the financial side, as it can operate with overhead costs of significantly less than 5%, depending on the size of overall contributions. It could also become a funding vehicle for a future post-conflict reconstruction effort already being operational when the time comes. This EU Trust Fund will address the massive and increasing resilience and stabilisation needs in Syrias neighbouring countries, in particular Lebanon, Jordan, Turkey, Iraq and Egypt, as well as inside Syria. europa.eu/rapid/press-release_IP-14-2664_en.htm
Posted on: Tue, 16 Dec 2014 13:40:32 +0000
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