Brussels: The European Commission has expressed approval for the European Parliament and the Council’s adoption of crucial updates to the Cohesion Policy for the 2021-2027 period. These modifications are designed to allow EU Member States and regions to redirect funds towards strategic areas such as competitiveness, defence, affordable and sustainable housing, water resilience, and energy transition.
According to Cyprus News Agency, the updated policy includes increased prefinancing rates of up to 20% for Member States and regions investing in these new priorities. Additionally, programs reallocating at least 10% of their total value to these areas will benefit from even higher prefinancing rates. EU co-financing rates will also see an increase, helping to alleviate the financial burden on national budgets. Special considerations are made for EU regions bordering Russia and Belarus, which have been negatively impacted by the ongoing conflict between Russia and Ukraine.
Executive Vice-President for Cohesion and Reforms Raffaele Fitto emphasized the significance of these changes, noting their role in modernizing Cohesion Policy to address contemporary challenges and support common European priorities. Meanwhile, Executive Vice-President for Social Rights and Skills, Roxana M®nzatu, highlighted the policy’s role in enhancing employment, education, and social inclusion.
The amendments followed consultations with Member States and will take effect once published in the Official Journal of the European Commission. This gives Member States the flexibility to amend their Cohesion programmes accordingly.
In a related initiative, Executive Vice-President Fitto is conducting an Implementation Dialogue focused on Cohesion Policy funding and regional competitiveness. This dialogue aims to gather insights from stakeholders to identify challenges and potential simplifications in policy implementation.
Furthermore, the European Commission continues to foster global partnerships, as demonstrated by Commissioner Jessika Roswall’s visit to Japan. The trip aims to strengthen cooperation in the circular economy sector and includes discussions with Japanese government officials and participation in various events such as the World Expo in Osaka.
In another development, Commissioner Glenn Micallef is hosting an Implementation Dialogue on Creative Europe Cooperation Projects. This dialogue seeks to enhance the impact of cultural cooperation projects by incorporating feedback from grant holders.
These initiatives reflect the European Commission’s commitment to aligning EU policies with on-ground realities and fostering international collaborations to address global challenges.