During the last two months, regions from all around Europe have seen how their economies suffered a drop, if not an absolute stagnation, resulting in one of the heaviest crises humanity has faced in the last decades. The quarantine and subsequent lockdown have triggered political mechanisms in hopes of avoiding the loss of employment, the downfall of production capacity, and a deep economic crisis just after the outbreak of the pandemic. For this purpose, some of the biggest public budgets ever have been mobilised, with Regional Development Agencies playing a key role as the most-prepared actor to design the proper policies, target the right actors and create the instruments needed to spend the money in the most efficient way.

EURADA members have been implementing some of the best economic responses to the COVID-19 situation. During the last weeks, the Secretariat has created a dedicated section on its website that is being continuously updated. Here you will find easily accessible best practices, not only from the regions but also from the European Union institutions and other economic and social actors. We believe we have managed to collate a valuable net of policies and public initiatives able to cushion the economic impact of the coronavirus. A few of these measures worth sharing include:

  • ADI Nouvelle-Aquitaine Development established a platform to link industrial initiatives, gathering solution providers, experts and applicants with the aim of making available those needed-most health products, such as masks, hydroalcoholic gel, personal protective equipment, and so on. This way, the gap between what the society is demanding and what is being offered by the companies has been successfully solved;
  • Business Joensuu’s broad action plan to address different aspects of the crisis, applies diverse solutions, holding webinars to share legal advice, creating a team to give support to the business on how to face challenges, etc.
  • Foro ADR’s compilation of measures, especially bearing in mind how fast they designed it, straight after the outbreak of COVID19 in Spain. This compilation is as diverse as the realities each Spanish region is facing during this crisis. In some cases, the regions have taken the decision to address funds to SMEs, allowing them to put their accounts in order; while in other cases, practical guides on how to adapt the business to the new situation have been the chosen decision.

If you are looking for further information about the role of the RDAs in the economic response to COVID-19, or the initiatives that the European Union and related institutions have been applying, as well as those that came from third sector organisations, central banks and different institutions committed with economic safety of Europe, you can find all the measures so far gathered here. We would also be delighted to learn from you about any other responses that you consider useful sharing. Please don’t hesitate to drop us an e-mail with the relevant information to info@eurada.org