ECONOMY FINANCE&BANKING

EC wants to help managing authorities with EU funds

The European Commission on Wednesday launched a call for participation in a pilot action to help managing authorities in member states further enhance the way EU funds are managed and invested, according to a press statement of the commission.

The selected candidates will receive support through a new approach, based on expertise from the commission, in cooperation with the Organisation for Economic Cooperation and Development (OECD), and an integrated and coordinated use of available assistance and instruments.

In particular, it will help managing authorities prepare a comprehensive roadmap with clear objectives, as well as implement identified actions.

“Cohesion Policy is more than just funding; it is also about making the best use of available funding. This can only be achieved via high quality administration which ensures that EU citizens benefit from the best possible results. This pilot initiative will assist selected managing authorities to prepare for the next financial period, beyond 2020,” European Commissioner for Regional Policy Corina Cretu is quoted as saying in the statement.

The European Structural and Investment (ESI) Funds channel over 450 billion euro to tens of thousands of beneficiaries over the 2014-2020 funding period. This pilot action is part of a broader Commission initiative to ensure effectiveness of EU funds on the ground, in line with the Reflection Paper on the future of the EU Finances.

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