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Data: 11/11/2013
In addition to this, Member States and regions have to fulfill strict conditions before they can invest the funds. In the past, investments could fail because the regulatory contexts were not right. Now, investments should start only once well-designed strategies are in place or certain pre-conditions fulfilled. Necessary preconditions are for example smart specialisation strategies to identify where a regions key strengths are, transport strategies, measures to improve public procurement and administrative capacity or compliance with environmental laws.
Moreover, the reforms aim to simplify the use of EU funds through digital technology (e-cohesion), simpler accounting rules and more targeted reporting demands. Finally, in the next period, better support will be given to the urban dimension by earmarking a minimum amount of resources for integrated projects in cities, as well as to cooperation across borders.
4. What will happen now?
Once the final deal on the reform is approved, it is full steam ahead. In fact Member States are currently working on the "Partnership agreements" setting out the main objectives and investment priorities for their regions. Those are the starting points for the more detailed national and regional programmes. I call on the Member States to finalise their Partnership agreements very soon. The earlier each country can complete its partnership agreement, the earlier investment can be directed towards growth and jobs for the benefit and well-being of people living in Europe's regions and cities.
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