Brussels, 03/05/2012 (Agence Europe) - In response to a far from praiseworthy report by the European Court of Auditors on failed structural fund financing in European maritime infrastructure (see EUROPE 10602), Alain Cadec (EPP, France), rapporteur on a European strategy for the Atlantic region, states that he has already initiated avenues for more effective port investment.
The Court of Auditors' report said that, of 27 European projects examined (which received European subsidies between 2000 and 2006), only 11 projects could be described as a true success, while the others, which were not fully used, were subject to delays or did not meet needs, among other failings. Cadec said auditing had revealed ineffective management of many port investment projects, largely due to a lack of strategic vision regarding such investment. As a result, he underlined that his parliamentary report on the European strategy for the Atlantic region called for a clear strategy with regard to regional planning and industrial policy in those regions. If, he said, European funds are truly steered to clearly stated priorities, then the effectiveness of projects will be naturally reinforced. The European strategy for the Atlantic region is to be initiated in 2014 with the financial support of the EU, the 27 member states and the regions. (MD/transl.jl)