Brussels, 28/02/2012 (Agence Europe) - MEPs are continuing to speed up their work in an attempt to approve the amendments to the regulation for helping countries receiving financial assistance from the European Union (Portugal, Ireland, Greece and Rumania). A risk sharing instrument was being scrutinised by members of the parliamentary committee in charge of regional development (REGI) on Tuesday 28 February. Rapporteur Danuta Hübner (EPP, Poland) is the chair of this committee and she returned to the Commission proposal to amend the regulation on structural funds, so that some of these funds help to resolve the liquidity problem being experienced in these countries. The risk sharing instrument would use 10% of regional and cohesion funds as a guarantee, so that banks can continue to provide the investment needed to continue the programmes as planned in the structural funds. Greece is particularly in need of such an initiative. Hübner is insisting that the instrument gives “preferential access to the revenue-generating and state aid projects already included in the operational programmes of the member states concerned but (…) which can contribute to their economic recovery”. (MD/transl.fl)