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ENFANTS TERRIBLES

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GRAPH 2: Share of European Regional Development, Social and Cohesion Funds and national co-financing in total public<br />

investment, average 2011-2013; source DG Regional and Urban Development<br />

% of total public investment<br />

90<br />

80<br />

70<br />

60<br />

50<br />

40<br />

30<br />

EU-27<br />

20<br />

10<br />

SK LT HU BG LV PT EE CZ PL MT RO SI EL ES IT CY DE FI FR UK BE SE AT IR NL DK LU<br />

Central and Eastern Europe is where EU funds play a substantial<br />

role in financing public infrastructure investments (Graph 2).<br />

Between 40% (Romania) and 85% (Slovakia) of all<br />

public investment from 2011-2013 was carried out<br />

with contributions predominantly from EU funds, with a<br />

national co-financing rate of between 15% and 50% of<br />

project costs. This trend is expected to continue in the<br />

2014-2020 period. In other words, the way EU funds are<br />

invested in infrastructure in Central and Eastern Europe<br />

significantly shapes the countries’ economic development<br />

paths.<br />

THE EU COHESION POLICY 2014-2020 PURSUES A BROAD RANGE OF OBJECTIVES 18 ,<br />

PRACTICALLY SERVING ALL AREAS OF PUBLIC INVESTMENT:<br />

(1) Strengthening research, technological development and innovation.<br />

(2) Enhancing access to, and use and quality of, ICT.<br />

(3) Enhancing the competitiveness of SMEs.<br />

(4) Supporting the shift towards a low-carbon economy in all sectors.<br />

(5) Promoting climate change adaptation, risk prevention and management.<br />

(6) Preserving and protecting the environment and promoting resource efficiency.<br />

(7) Promoting sustainable transport and removing bottlenecks in key network infrastructures.<br />

(8) Promoting sustainable and quality employment and supporting labour mobility.<br />

(9) Promoting social inclusion, combating poverty and any discrimination.<br />

(10) Investing in education, training and vocational training for skills and lifelong learning.<br />

(11) Enhancing institutional capacity of public authorities and stakeholders and efficient public administration.<br />

18<br />

REGULATION (EU) No 1303/2013 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 17 December 2013 laying down common provisions on the European<br />

Regional Development Fund, the European Social Fund, the Cohesion Fund, the European Agricultural Fund for Rural Development and the European Maritime<br />

and Fisheries Fund and laying down general provisions on the European Regional Development Fund, the European Social Fund, the Cohesion Fund and the<br />

European Maritime and Fisheries Fund and repealing Council Regulation (EC) No 1083/2006<br />

12<br />

‘Climate’s enfants terribles: how new Member States’ misguided use of EU funds is holding back Europe’s clean energy transition’

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