Cohesion Policy helping economic recovery
(29 October 2010)
European Union Cohesion Policy is playing a key role in dealing with the economic crisis, according to a report published by the European Commission on 25 October 2010.
Reforms approved in 2008 and 2009 have boosted the take-up of EU Structural Funds, with more than 27% of the funding available for the 2007-2013 period (€93 billion) already allocated to specific projects. EU support is helping to improve access to finance for small businesses, and providing active labour market measures targeted at groups affected by the crisis. Although the report notes progress in some areas, it highlights the need to accelerate project implementation in the rail sector, energy, environment, the digital economy and social inclusion.