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Data as of 3 July 2013. More statistics are available on www.espa.gr

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Press release

EU Commissioner for Regional Policy, Johannes Hahn has told Member States and regions there is no time to lose in planning the EU structural funds programmes for 2014-2020. The call to action comes after members of the European Parliament's Regional Development Committee adopted a series of reports that in principle agree a radical reform of Regional Policy. Key elements of reform confirmed by today's vote:

• Focusing investments on key areas for growth and jobs as outlined in the Europe 2020 strategy through a common set of rules which apply to all five European Structural and Investment Funds (European Regional Development Fund, European Social Fund, Cohesion Fund, European Agricultural Fund for Rural Development and European Maritime and Fisheries Fund)
• The majority of the budget to be concentrated on few priorities closely linked to the EU 2020 growth strategy. In particular:
• Between 50% and 80% of the ERDF budget concentrated on measures to support innovation and R&D, the digital agenda, the competitiveness of SMEs, and the shift towards a low carbon economy.
• On low carbon economy a further obligation to allocate at least between 12% and 20% to energy efficiency and renewable energy.
• Member States and regions to establish clear and measurable targets on the impact of the investments. Progress to be measured and communicated.
• Measures to cut red tape and simplify the use of EU funds: more common rules among all funds, more targeted but fewer reporting demands, more use of digital technology (“e-cohesion”)

Read the full press release Source: European Commission

'The European Council on 27-28 June decided to launch a new “Investment Plan” and to intensify the fight against youth unemployment by utilizing the financial support of the European Investment Bank (EIB).

The EIB will launch with immediate effect a dedicated youth employment programme “Skills and Jobs – Investing for Youth” to help counteract the rapid increase in youth unemployment in Europe.

The programme is based on two pillars. The pillar “Jobs for Youth” will provide SMEs with better access to finance and link EIB financing to the employment of young people in SMEs. The second pillar “Investment in Skills” will support job -related skills and on-the-job-training by investing in educational facilities (universities, research facilities), vocational training programmes, student loans and mobility programmes.

During his discussion with the Heads of States and Governments President Hoyer reiterated that the EIB is on good track with its business plan following the capital increase of EUR 10 billion. Hoyer: “We have delivered and we are delivering with the successful implementation of the capital increase.” He underlined that that “the EU Bank has taken a clear counter-cyclical course and is investing in regions where others have left the markets.” He made it clear that the Bank has a strong focus on small and medium sized enterprises and the knowledge economy but that it will also continue to provide long-term financing in all member states in strategic infrastructure (e.g. broadband technology, energy or transport infrastructure) to improve Europe`s competitiveness on the global markets. He further emphasised that the Bank is developing new products, such as a trade finance scheme for Greece, SME Guarantee programmes and the Project Bonds Initiative that the EIB is currently introducing to the markets in a pilot phase.'

Source: Abstracts from the official press relase of the EIB. Read the full press release