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CoR President Valcárcel and EIB President Hoyer to encourage public and private investment for regional growth
The President of the Committee of the Regions, Ramon Luis Valcárcel met with the President of the European Investment Bank Werner Hoyer today and discussed ways to improve access to EIB resources for local and regional entities and to promote better use of the Bank's funding opportunities.
The two institutions share the objective of strengthening relations between the EIB and the local and regional authorities starting from the shaping of the operational programmes for the structural funds 2014-2020.
President Valcárcel underlined that: "Together with the EIB, the CoR is committed to promoting better knowledge of the funding opportunities offered by the EU for local and regional authorities and to activating synergies to support public and private investment for sustainable growth and employment. At this moment in time it could be crucial as a way to encourage future recovery".
EIB President Hoyer said: “The EIB is the Bank of all Member States, concerned with the cohesion and prosperity of the entire EU. Continuous development of regions and cities will remain one of the building blocks of our economic strategy, and increased cooperation of the EIB with the CoR will be beneficial for both institutions”.
At the end of the meeting, President Valcárcel referred to several cooperation activities being considered by the CoR and the EIB, among which is a conference on public and private investment to be held next May as well as targeted initiatives focused on Europe 2020 and on the Euro-Mediterranean Regional and Local Assembly (ARLEM).
The Committee of the Regions
The Committee of the Regions is the EU's assembly of regional and local representatives. The mission of its 344 members from all 27 EU Member States is to involve regional and local authorities and the communities they represent in the EU's decision-making process and to inform them about EU policies. The European Commission, the European Parliament and the Council are obliged to consult the Committee in policy areas affecting regions and cities. It can appeal to the EU Court of Justice if its rights are infringed or it believes that an EU law infringes the subsidiarity principle or fails to respect regional or local powers.
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