Director General for Development Mr. Theodosis A. Tsiolas represented the Minister of Finance at the General Affairs Council on Cohesion Policy, which took place today in Luxembourg.
During the Council, the Ministers responsible for Cohesion Policy issues exchanged views on the basis of the results of the European Commission's Report and the relevant Council Conclusions. In particular, the discussion focused on the challenges facing the EU's development investment sector and the ways in which decisions and planning can be improved. The Ministers also exchanged views on the economic consequences of the war in Ukraine, especially with regard to the problems in implementing development investments through the European Cohesion Policy Funds.
In his intervention, Mr. Tsiolas pointed out that the Report highlights the different starting points, capacities and needs of the Member States, as well as the need to orient Cohesion Policy towards the real needs of the regions and Member States, to provide flexibility in the implementation of the Cohesion Policy. The timely adoption of the Programmes will allow Member States to respond immediately to current challenges, including the problems facing the supply chain, inflationary pressures and increased migratory flows, which create additional needs for funding and timely implementation of targeted development projects, he stressed.
