The European Commission has proposed an initiative to revise the rules on European funds which was voted last Friday by the European Parliament

With this proposal, the body of rules will be reduced by making the whole thing simpler and clearer, and this will make all steps easier for the local authorities and the beneficiaries of the funds. Beneficiaries and managing authorities will also be able to focus on results rather than on the collection and control of financial documents.

What will change:
1. More possibilities of combinations between the European Strategic Investment Fund (EFSI), the core of the Juncker Plan, and Cohesion Policy funds: more need for national co-financing when the latter are invested in an EFSI project and possibility to cover the first risk tranche;
2. Less formality for the beneficiaries of the funds: they will be able more easily to have their costs reimbursed by the EU.