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Wednesday, June 29, 2016

Decision of the Commission to amend ESI Funds Regulation to help Member States facing difficulties

Public Management, Economy - Finances,-,

News In view of the importance of the European Structural and Investment Funds in public investment due to the limitation of investment with the crisis, the Commission decided to help Member States to make the most out of the Funds. 

The economic crisis had a significant impact on many Member States budgets, restricting funding for all types of investment. Therefore, the importance of the European Structural and Investment (ESI) Funds in public investment has significantly increased, especially in the Member States most affected by budgetary difficulties.
Hence, the Commission has decided to continue helping these Member States make the most out of the Funds by proposing to amend the 2014-2020 ESI Funds Regulation. It aims to maintain the EU co-financing rate of 85% for Cyprus and to extend the "top-up" mechanism, which can benefit Greece.

Source :  Press room - European commission


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