Why do cohesion funds matter? – Leo Brincat

I am often asked why cohesion funds matter, both from a funding and an auditing perspective. Their importance and sensitivity arise from the fact that as financial tools to implement the cohesion or EU regional policy, their primary aim was and remains that of reducing regional disparities in terms of economic development. They were designed as a key instrument to achieve the Lisbon Strategy objectives to create both growth and jobs. In this day and age of aiming to correct imbalances between countries and regions they also need to deliver on the Union’s political priorities, especially the green and digital transition. During the pandemic I had been honoured to host informal discussions at the European Court of Auditors’ offices in Luxembourg with Elisa Ferreira, the European Commissioner for Cohesion and Reform, who recently visited Malta on what seemed to be a very rewarding and successful visit. Having discussed with her a report on cross-border co-opera­tion with external countries outside the EU, for which I was then a Court Reporting Member, I was able to comprehend even more how both traditional and new instruments are being used to target investment and inclusive growth...