Brussels, 27/03/2012 (Agence Europe) - In its special report (No. 2/2012) published on Tuesday 27 March, the European Court of Auditors (ECA) concludes that the effectiveness and efficiency of the European Regional Development Fund (ERDF) spending on financial instruments for small and medium enterprises (SMEs) were “hampered by the regulatory framework being inappropriate for the different types of financial instruments used”. The ECA highlights widespread delays in the funds reaching...