Vice-Minister of Finance M. Liutvinskas: "Cohesion policy must pay increased attention to the countries and regions bordering the aggressors"
Vice-Minister of Finance Mindaugas Liutvinskas attends the European Union (EU) General Affairs Council that takes place on 18 June in Luxembourg, which is centred on the strategic objectives of cohesion policy post-2027 and links with the wider strategic agenda of the EU.
"Today, the EU is facing unprecedented shocks and a significant deterioration in the security environment on the continent. Cohesion Policy, as the EU's main long-term investment instrument, cannot ignore the changed geopolitical reality: it is necessary to pay increased attention to EU countries and regions on the external border and bordering the aggressor states. This negatively affects the prospects of economic and social convergence between these countries and regions, therefore, Cohesion Policy must take this into account and adapt the available instruments,” Vice-Minister of Finance M. Liutvinskas says.
According to the Vice-Minister, Cohesion Policy must take into account the different social, economic and especially territorial realities of the Member States and provide sufficient flexibility for the implementation of investments. Cohesion Policy also contributes to achieving the EU-level objectives of intra-community convergence, green and digital transformation and strengthening economic competitiveness. It is important to develop financial instruments and mobilise both public and private capital in order to achieve these objectives.
Last updated: 13-08-2024
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