MEPs approve new cohesion policy, EUR 7.25 bln allotted to Romania

proved on Wednesday key rules and regulations for implementing the EU cohesion policy in the 2014-2020 budget exercise, with 7.25 billion euros to be allotted to Romania, according to a EP release quoted by Mediafax.
As in the current budgetary exercise, the Regulation of the Cohesion Fund stipulates that the EU member states eligible for funding are those with a gross national product per capita less than 90 per cent of the EU average. Romania will benefit from 7.25 billion euros, over 2014-2020, with the total amount of the fund amounting to 66 billion euros.
On the other hand, the application of the cohesion fund was expanded, in order for funds “to be granted to projects on energy efficiency and use of energy from renewable sources in households, as already stipulated for infrastructures and public enterprises, and to be invited in projects for high yield urban heating and co-generation of thermal and electric energy,” according to the document adopted by 617 votes to 39.
The Cohesion Policy Regulation stipulates that no funds should be directed to tobacco-related activities and enterprises facing woes.
In a compromise deal struck with the Council after more than a year of tough negotiations, MEPs secured substantial funding for EU regions to invest in their development projects, on terms fairer to them, EP official website reports. They also pruned back the bureaucracy needed to apply for this funding, which is sorely needed in this time of economic crisis.
“Member states and regions will be able to focus more closely on the impact of programmes and projects and worry less about administrative technicalities”, said Regional Development Committee chair and Parliament’s lead negotiator on cohesion policy Danuta Hübner (EPP, PL). “Cohesion policy will continue to be the main European source of public funding in the context of the multiannual financial framework 2014-2020, and its new framework is putting all the emphasis on the need to invest wisely. The alignment of the new cohesion policy with the EU2020 Strategy is fundamental, but investment in smart, sustainable and inclusive growth must take us towards economic, social and territorial cohesion”, she added.

Related posts

Liberal MP proposes debate on introducing First Lady institution in Romania based on the American model

Nine O' Clock

EU-Southeast Europe Summit in Bucharest

Nine O' Clock

DNA prosecutors take into custody National Integrity Agency head

Nine O' Clock