The European Parliament and the European Council have reached a provisional agreement on the framework for the bloc’s regional and cohesion funding for the 2021-2027 period. As a result of the negotiations between the two institutions, it was decided that a large part of the European Regional Development Fund, will be spent on green and smart technologies that will substantially modernize the Union and its regions.
Going green and smart over the next decade
According to the deal, all countries in the EU will have to spend 30% of the funding allocated to them under the ERDF for green projects. Meanwhile, some of the less developed regions and countries of the bloc will have to spend a set amount of funding on smart projects. Those with a GNI ratio of between 75 and 100% of the EU average will be spending some 40% of the funds on smart projects, while those under 75% of the EU average will be allocating 25% of the total amount to their digitalization efforts.
Some of the other key measures that have been agreed upon include an increase in the funding available to cities in the EU with some 8% of ERDF resources allocated at a national level being earmarked for sustainable urban development, a bolstering of support for remote regions and islands, as well as an increased focus on research and innovation.
Rapporteur Andrea Cozzolino stated that “After a year of work under extraordinary circumstances, we have reached an excellent agreement with the Council on the ERDF/CF regulation that will allow support, in all European regions, for employment, welfare, economic growth and, above all, sustainable development for the next 2021-2017 programming.
From tourism to social housing, this is an ambitious regulation that offers enormous opportunities, and which allows member states to face significant international challenges, such as the pandemic, the migration crisis or climate change. Never before has EU cohesion policy had the tools to combat all inequalities and leave no one behind.”
Source: TheMayor.EU
