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30 May 2018

Commission presents proposal for EU Regional Development and Cohesion Policy beyond 2020

On 29 May 2018 the European Commission presented its proposal for a modernised Cohesion Policy. The future focus of the relevant funds will be on prioritising key investments. This means that a big part of European Regional Development Fund and Cohesion Fund investments will go towards innovation, support to small businesses, digital technologies and industrial modernisation. It will also go to the shift towards a low-carbon, circular economy and the fight against climate change, delivering on the Paris Agreement.

Vice-President responsible for Jobs, Growth, Investment and Competitiveness, Jyrki Katainen, said: "Over the next decade, Cohesion Policy will help all regions modernise their industry and invest in innovation and the transition to a low-carbon, circular economy. In addition, our proposal will further contribute to a business-friendly environment in Europe, setting the right conditions for growth, job creation and investment."

The paper also states that Cohesion Policy should continue investing in all regions, it will follow a tailored approach and it will empower locally-led development strategies. The Commission also proposes simplification: Rules should become fewer, clearer and shorter.

For more information: EC News

The proposal can be downloaded here.

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