After long negotiations an agreement was reached yesterday evening between the European Parliament and the EU Member States in the Council on the Regulation on common provisions (CPR) for funds under shared management, including EU cohesion policy funds.

This is the second file related to cohesion policy whose trilogue negotiations are concluded pending the final approval of the legal texts by the European Parliament Plenary and the Council.

The CPR provides the policy framework necessary to ensure that shared management funds continue to fulfil the Treaty objective of promoting convergence and supporting the least developed parts of the EU. As the main legal basis for cohesion policy, the CPR ensures the means to address the emerging economic and social challenges through higher flexibility in terms of transferring resources and extended capacity to address future crises.