Brussels, 28/11/2014 (Agence Europe) - That investments made by member states under the terms of the Juncker plan will be excluded from calculation of their budget deficit is excellent news for the Committee of the Regions (CoR). CoR President Michel Lebrun sees it as the first step in the right direction and calls for the principle to be extended to all national and regional investment matching EU structural and investment funding. This is a call that the Committee of the Regions has made many times to European decision-makers.
The CoR has also taken note of the invitation in the investment plan to make more systematic use of innovative financial instruments instead of traditional subsidies, through the structural funds. Lebrun expresses a reservation, however, underlining that “intensifying the use of such instruments … cannot happen to the detriment of the less favoured regions where, in the most cases, grants cannot be replaced by loans, equity and guarantees”.
The CoR recommends that the independent committee that will be responsible for examining projects eligible for European strategic investment funding should also include regional experts.
The European regional development commissioner may provide more information on how the stimulus package will articulate with cohesion policy at the CoR plenary session next week. (MD)