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Table 3.15 Prohibitions, restrictions, or licensing on exports, 2022
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Product: Fish of vessels from Cambodia, Comoros, and Saint Vincent and the Grenadines
Measure: Prohibition
Number of CN lines: 359
Rationale: EU Regulation to fight against Illegal, Unregulated and Unreported (IUU) fishing
Legislation: Council Regulation (EC) 1005/2008; Council Implementing Decision (EU) 2014/170; Council Implementing Decision (EU) 2017/1332; Council Implementing Decision (EU) 2017/1333; and Council Implementing Decision (EU) 2016/1818
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3.135. Discussions at the OECD on export credits have also led to the sharing of good practice, sector understandings, arrangements, or recommendations, which are also non-binding except when incorporated into EU regulations. The sectoral understandings cover ships, nuclear power plants, civil aircraft, renewable energy, climate change mitigation and adaptation, water projects, and rail infrastructure. (...)

3.136. In line with its policy initiatives such as the European Green Deal and commitments under the Paris Agreement, the European Union has increased its environmental dimension in many areas, including export credits. The OECD Recommendation on Common Approaches for Officially Supported Export Credits and Environmental and Social Due Diligence requires identification of potential environmental impacts and to follow certain guidelines when screening export credit applications so as to not have a negative impact on the environment. All 20 EU Export Credit Agencies reporting under Regulation (EU) 1233/2011 have reported compliance with this Recommendation. Furthermore, some member States have gone beyond OECD Recommendations or Understandings to require a higher level of scrutiny for environmental impact or have joined the E3F (the Export Finance for Future) coalition. Nine EU member States are signatories to the E3F and have pledged their support to end official trade and export finance for thermal coal-related infrastructures and review ways to phase out similar measures for the fossil-fuel sector. [161]
[161] The signatories are Belgium, Denmark, Finland, France, Germany, Italy, Netherlands, Spain, Sweden, and the United Kingdom. EKN, The Export Finance for Future "E3F". Viewed at: https://www.ekn.se/en/what-we-do/sustainability/climate/e3f/; and Statement of Principles, Export Finance for the Future. Viewed at: https://credendo.com/sites/default/files/media/files/2022-07/Statement%20of%20principles%20E3F.pdf.

3.141. At the EU level, subsidies are mostly granted to agriculture and regional development mainly through long-established shared management funds known as European Structural and Investment Funds (ESIFs) , most of which are referred to as Common Provision Regulation Funds (CPRFs) under the 2021-27 EU budget, as per the new regulation that governs them. These funds are managed by both the European Commission and national authorities in member States, with the latter overseeing the implementation of the programme. Subsidies are granted mainly through six shared management funds (...). Compared to the previous EU budget (2014-20), the European Union modified the composition of some of these funds. It established the Just Transition Fund to provide support to the private sector to mitigate the effects of climate change and economic diversification (...)

Table 3.24 Common Provision Regulation and European Structural and Investment Funds, 2022
Fund: European Regional Development Fund
Main form of assistance: Grants and financial instruments (loans, guarantees for loans, and equity participation)
Focus: Innovation, digitalization, and green technologies
Budget planned 2021-27 (EUR billion, current prices): 226
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Table 3.24 Common Provision Regulation and European Structural and Investment Funds, 2022
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Fund: Cohesion Fund
Main form of assistance: Grants and financial instruments
Focus: Environment and Transport
Budget planned 2021-27 (EUR billion, current prices): 48
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Table 3.24 Common Provision Regulation and European Structural and Investment Funds, 2022
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Fund: Just Transition Fund
Main form of assistance: Grants and financial instruments
Focus: Transition to a climate neutral economy
Budget planned 2021-27 (EUR billion, current prices): 8.5a (plus 10.9 billion from NGEU [NextGenerationEU] )
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3.145. (...) in December 2020, the European Union adopted the Recovery Assistance for Cohesion and the Territories of Europe initiative know as REACT-EU, which extends crisis-repair measures delivered through the CRII [Coronavirus Response Investment Initiative] and CRII+ initiatives. The REACT-EU funds amount to about EUR 50 billion (current prices) (from the NGEU [NextGenerationEU]) and are available as a complement to the 2014-20 allocations for the European Regional Development Fund and European Social Fund. Funds are to be used until end-2023 and are intended to support projects that foster economic recovery and the green and digital transitions.

3.146. In addition to these funds, the European Union maintains several other funds intended to support entrepreneurs and businesses activities in general and in various areas such as research and innovation, climate and digital transition, and recovery and resilience, which were given further importance (or are new) under the budget 2021-27 in accordance with EU environmental and digital objectives (Table 3.25).

3.147. In the area of energy, total subsidies (at the EU and member State levels) for all types of energy (fossil fuels, nuclear, and renewables) rose between 2020 and 2021 from EUR 173 billion to EUR 184 billion, which was mostly due to an increase in energy demand as economic activities began to recover according to a recent report by the European Commission. (...)