Pavić: Cohesion policy has "vital" role for EU's economic recovery

The cohesion policy has "vital" importance for the European Union's economic recovery, Croatian Minister for Regional Development and EU Funds Marko Pavic said after a video conference of EU ministers in charge of the cohesion policy. 

"Having in mind that the years following the crisis will present a serious challenge on the path to economic recovery, the role of the cohesion policy will have vital importance in that context," Minister Pavic said, as carried a press release from his ministry.

Pavic held the video conference with EU ministers responsible for the cohesion policy, with European Commission for Cohesion and Reform Elisa Ferreira participating in the conference.

The ministers concluded that the introduction of additional resources requires a just distribution of funds at the national level earmarked for the most jeopardised regions and sectors, the press release said.

The ministers also agreed that it is necessary to adopt an ambitious Multiannual Financial Framework, i.e. new seven-year EU budget for 2021-2027.

According to the European Commission's proposal "European Union New Generation", Croatia would receive a grant of € 7.3 billion and €2.69 billion in the form of a loan from a total budget of €750 billion to bail out the European economy, €500 million of which would be in the form of grants and €250 billion in loans.

Text:Hina

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