Extra 17 million euros to be found for Schuman redevelopment

The renovation of Schumanplein in Brussels’ European quarter officially began in November, after years of consultation. The intention is for the space to be a traffic-free meeting place for locals and staff of the European institutions. With more trees and plants, a large central canopy and a pedestrian walkway, it should contribute to making the neighbourhood more attractive.

The EU was to provide a subsidy of just over 17 million euros, as part of the Next Generation EU recovery plan, with construction body Beliris covering the rest of the estimated 25 million euro cost. However, the EU portion has recently been converted from a subsidy to a loan.

Under Next Generation EU, Belgium originally received more than 5 billion euros in subsidies, destined for regeneration and invetment projects such as the Schuman redevelopment.

Reduced subsidy

“We have had to revise the European recovery plan, because the European subsidy was reduced,” said Laurens Teerlinck, spokesperson for State Secretary Thomas Dermine. The reduction was a consequence of Belgium’s better economic performance than neighbouring countries in the aftermath of the Covid-19 crisis, Teerlinck said.

“To compensate for this reduction, it was decided to transfer the Schuman project from the ‘subsidies’ section to the ‘loans’ section of the recovery plan, as with a number of other projects,” he said. The loan will be subject to more favourable conditions than traditional loans that the government has taken out.

As a result, an extra 17 million euros will need to be found for the project. Dermine’s office says this will be done at federal level, and not at the level of the Brussels region.

The conversion from subsidy to loan will not have any impact on the budget or implementation of the Schuman project, Teerlinck said. The work is scheduled to be completed in winter 2025.