In 2002 the European Union Solidarity Fund has been created in order to the provide financial assistance to EU Member States and candidate countries affected by major natural disasters. Its operation principles are analyzed in the paper and assistance provided between 2002 and 2004 using the Fund 's resources is presented. Finally, an evaluation of the Fund's operation is presented, as well as recent proposals of the European Commission aimed at using resources from European Agricultural Fund for Rural Development (EAFRD), European Regional Development Fund (ERDF) and Financial Instrument for Fisheries Guidance (FIFG) to finance disaster prevention measures.