Finance Minister stresses role of cohesion towards green and digital transitions

The EU Cohesion Policy, which finances development projects and reforms in the Member States, invests significantly in the green and digital transition and should respond to its role in ensuring economic, social and territorial cohesion, Finance Minister Makis Keravnos has said.

He was speaking during the General Affairs Council of the EU which was dedicated to the future of Cohesion Policy, and held in Luxembourg on 18 June.

The ministers discussed the link between Cohesion Policy and the new EU Strategic Agenda for 2024-2029, which is expected to be adopted by the European Council at its summit on 27-28 June. They also discussed the link between Cohesion Policy and reforms in the member states, and adopted conclusions on the communication on the 9th Report on the Future of Cohesion Policy.

In his intervention, according to a statement released via the PIO, the Finance Minister spoke about the need to align the EU's strategic objectives with policies that promote solidarity and harmonious development across the EU, such as the Cohesion Policy.

Synergies between Cohesion Policy and the Strategic Agenda are vital to achieve balanced development for all EU regions, he said.

Keravnos also argued that a Cohesion Policy which invests heavily in the green and digital transition should live up to its role as recognised in the Treaties towards economic, social and territorial cohesion, and act as a key tool to further strengthen the Single Market.

According to the press release, Cyprus' position is that Cohesion Policy and reforms are two key tools which should be implemented in a way that ensures decentralised decision-making, the active participation and cooperation of all stakeholders at European, national and local level, and the integration of the unique characteristics and potential of each country to promote the overall growth and prosperity of the EU.

(Source: CNA)