Representatives of local and regional associations met in Brussels today to exchange experience of using financial instruments, absorbing EU funds and methods to remove bottlenecks.  This stakeholder consultation was part of the inclusive preparation for Adam Struzik's (EPP/PL) opinion entitled "Financial Instruments in support of territorial development", which will be adopted in October.

Financial Instruments are an important tool in territorial development and the CoR opinion aims to contribute to improving their implementation at the local and regional level.  Within the framework of the European Structural and Investment Funds (ESIF), financial instruments should play an increased role in the efficient implementation of Cohesion Policy. However, during the consultation, the rapporteur's expert, Marcin Wajda, underlined the need for a clear distinction between the use of financial instruments within the Cohesion Policy framework and the Investment Plan for Europe, whilst ensuring synergies.

Wajda reassured that the opinion is not going to promote or suggest the use of financial instruments over EU grants or vice-versa:

"They both serve their purposes in different regions under different circumstances. The opinion will not call one better than the other". Wajda, despite endorsing the advantages of financial instruments, underlined the possible threat of their commercialisation, and suggested this aspect should be closely monitored. "Too much regulation might result in higher costs and risks for the interested actors" – he warned.

The draft opinion will be discussed and adopted by the COTER commission on 13 July 2015 before being presented to the CoR plenary session for adoption on 12-14 October 2015.