Involvement of the regional and local levels in the implementation of the EU's Investment Plan would be crucial to its success – underlined President of the EPP Group in the Committee of the Regions Michael Schneider at the meeting with the European Commission Vice-President Jyrki Katainen, during the 22nd Summit of EPP Parliamentary Groups in the National Parliaments of the EU and in the European Parliament today.
President Schneider has welcomed the new approach of the Juncker Commission, strengthening the decision making and ownership ties with the national parliaments but especially with the regional and local level. He also praised the improvements to the EFSI regulation introduced by the European Parliament:
"I believe that the latest version of the EFSI regulation after the amendments introduced by the European Parliament is better than the initial one. Especially, as it takes on board some of the CoR's core proposals, especially in parts referring to the involvement of local and regional levels. In fact, their role will be crucial to the success of the project. Not only because of importance of regional investment banks that could partner with the European Investment Bank. But also thanks to the experience regional and local authorities may offer in area of interregional and cross-border cooperation networks. They could serve as solid basis for the planned investments".
President Schneider also appealed to the Commission Vice-President for support in the area of cohesion policy implementation and for synergies between Cohesion Policy and EFSI:
"We must make sure that the political goals of cohesion, which go hand in hand with the structural funds, are not put at risk as a result of bureaucracy or red tape. The implementation of the cohesion policy seems to find obstacles because of the administrative procedures on the ground paralysing the good incentives. We need your support to dismantle the bureaucratic burdens in order to reignite initiative and creativity".
Commissioner Jyrki Katainen has promised a dedicated communication of the European Commission on how the Structural Funds could be potentially used as co-financing element with European Fund for Strategic Investments in the future. He also underlined the importance of active role of the local intermediaries for SME financing and encouraged active participation in establishment of the Investment Platforms in each Member State.
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