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Ministry of Finance
of the Republic of Latvia
1 Smilsu st., Riga
LV-1919, Latvia

P.: +371-67095405
F.: +371-67095503
E-mail: pasts@fm.gov.lv
info@fm.gov.lv

EU funds experts: Every invested euro should bring about highest possible added value 31/01/2018

Riga, 31 March 2015. – On 31 March, an informal meeting of Directors General responsible for Cohesion Policy took place in Riga under the Latvian Presidency. During the meeting experts discussed the most important pre-conditions for achieving the Cohesion Policy goals, in particular, enhanced use of financial instruments and the building of administrative capacity.

“A lot is expected from Cohesion Policy in the context of the current economic situation. We need to make sure and demonstrate that every euro spent brings about the highest possible added value to the development of each region, Member State and the European Union in general. We need to facilitate investment to ensure long-term, sustainable and inclusive growth returning to Europe,” Deputy State Secretary at the Ministry of Finance on EU Structural Funds and Cohesion Fund Issues Armands Eberhards noted in his opening speech.

As Armands Eberhards emphasised, most of the operational programmes for the new 2014-2020 EU funds programming period are adopted or ready to be adopted. Therefore, success of Cohesion Policy will largely depend on the building of implementation systems, the ensuring of appropriate know-how and human resources, and the choice of the most appropriate instruments for achieving specific objectives. It will also depend on good cooperation between the Member States and the European Commission.

The participants of the meeting discussed more intensive use of financial instruments and building of administrative capacity in the new EU funds programming period.

The representatives from the Member States and other institutions agreed that financial instruments should be implemented in Cohesion Policy when it is clear that they can contribute to the achieving of general policy goals and objectives of specific operational programmes more efficiently.

Mutual cooperation of involved parties, opportunities for the exchange of experience, and a strategic approach are essential for building administrative capacity. The participants also recognised that in order to achieve the goals the European Commission structures should provide involved parties with clear, consistent and timely guidance and interpretation of regulations.

This meeting will contribute to the discussions at the informal meeting of ministers responsible for Cohesion Policy in Riga, on 9 June 2015.

Representatives of all EU Member States, the European Commission, the European Investment Bank, the Committee of the Regions, the European Economic and Social Committee and the Conference of Peripheral Maritime Regions took part in the meeting.

Photos from the meeting: https://www.flickr.com/photos/71595363@N02/sets/72157651604585086/

 

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