EC Okays Transfer of EU Funds for Slovakia to Help People and Companies

Bratislava, October 18 (TASR) – The European Commission (EC) has approved Slovakia’s request for the transfer of unused EU funds to help its inhabitants and companies affected by high energy prices, Investments, Regional Development and Informatisation Minister Veronika Remisova (For the People) told a press conference on Tuesday.

The legislation proposed by the Commission is yet to be approved by the European Parliament.

Slovakia will be able to use EU funds from the 2014-2020 programme period for small and medium-sized enterprises and the population. Companies should receive funds via aid schemes, as was the case during the COVID-19 pandemic, while the public should be given energy cheques, for example. The EC limited the maximum amount of funds to 10 percent of the total package of EU funds, which is approximately €1.5 billion. According to Remisova, Slovakia will try to double this limit in the European Parliament.

“The European Commission has submitted its proposal, which subsequently needs to be approved by the European Parliament. This is also a call to the European Parliament to pass the European legislation as soon as possible,” said Remisova, adding that the latest deadline is the end of this year. According to the minister, following the change in European legislation, operational programmes will have to be adjusted and calls prepared in Slovakia. The money must be used by the end of next year at the latest.

The vice-premier further stated that measures to help companies and individuals from EU funds and from the state budget will be prepared simultaneously so that they can ideally be paid from both sources.