Brussels, 01/09/2015 (Agence Europe) - The Committee of the Regions (CoR) and the European Investment Bank (EIB) met on Tuesday 1 September to discuss their future cooperation within the framework of the European Commission investment plan and the European Fund for Strategic Investments (EFSI).
“Within the European Union, the Committee of the Regions has a very good understanding of local needs and challenges 'on the ground'. The experience of the CoR and its know-how will therefore be of great importance for the work of the EIB”, said EIB President Werner Hoyer.
Discussions focused on the investment plan, the EFSI and the role to be played by local and regional authorities. Some of those who spoke expressed their concern about the democratic deficit in the funding allocation process. CoR President Markku Markkula said that the EFSI had to complement cohesion policy, otherwise there would be duplication of effort between the two. He also highlighted the need for funding to be focused on small-scale projects and for member states' contributions to the EFSI not to be included in stability and growth pact calculations. He called, too, for local and regional authorities to receive technical assistance so that best use may be made of the new plan. He gave his backing to the Commission initiative in setting up a high level group to simplify investment and structural funding use (see EUROPE 11356). Lastly, he stressed the importance of local and regional authorities in the decision-making process and in the coordination of private and public players at regional level.
On 26 January, the two institutions launched a joint action plan to simplify financing procedures. In line with the 2015 EIB-CoR cooperation action plan published on 18 March 2015, the two institutions announced they would cooperate more widely and more closely in future, particularly in the training of local and regional authorities in the use of the new investment fund and in procedures for accessing it.
On 12 and 14 October, the CoR will debate and approve an opinion on the use of the new financial instruments to support territorial development. (Pascal Hansens)