Cohesion Policy Ministers: EU funds should be more result-oriented in the new programming period

On 9 June, the first session of the informal meeting of Ministers responsible for Cohesion Policy, Territorial Cohesion and Urban Matters took place in Riga. During the meeting, chaired by the Latvian Finance Minister, Jānis Reirs, the EU Ministers discussed how to use financial instruments more actively in the new EU funds programming period and how to strengthen good governance so that the resources invested from EU funds would be of the greatest possible benefit to the economic development of the Member States.

“The main objective of the Cohesion Policy is to reduce disparities in economic development and living conditions. At the outset of the new EU funds programming period, it is of vital importance to facilitate investments aimed at achieving results. Today, European citizens expect a lot more from the Cohesion Policy than ever before, so we must ensure that each euro invested provides the highest possible added value for the welfare of our citizens and economic growth,  noted Latvian Finance Minister Jānis Reirs.

Having discussed the latest developments in the reformed Cohesion Policy, the ministers agreed that policy challenges should be addressed so that full use is made of the Cohesion Policy's potential. The main challenges are the broader use of financial instruments, the building of administrative capacity and successful cooperation among all parties involved. Ministers also agreed to continue discussions on how to simplify the implementation of the Cohesion Policy.

Broader use of various financial instruments and more flexible solutions could play a decisive role in cases where projects have problems in attracting private financing. One very positive development is the fact that in the 2014-2020 programming period the overall planned use of financial instruments has nearly doubled, but more could be done to develop the contribution made by the funds by offering tailor-made solutions to specific situations in different Member States and regions.

With regard to strengthening good governance and administrative capacity, the Ministers noted that successful cooperation and coordinated and consistent interpretation of the rules throughout the programming period play a crucial role. Successful cooperation in practical measures is also a precondition for simplifying the Cohesion Policy and reducing the administrative burden and costs for beneficiaries and managing authorities.

The discussions will continue on 10 June at the informal meeting of Ministers responsible for Territorial Cohesion and Urban Matters. It will be chaired by the Latvian Environmental Protection and Regional Development Minister, Kaspars Gerhards. For the first time, Ministers will have the opportunity to discuss the EU Urban Agenda and agree on its key elements at a political level.

Press conference following the meeting