The benefit of European Investment Bank's (EIB) advisory support as well as the need to invest in climate action and digitalization in cities and regions were the key issues raised by members of the EPP Group in the European Committee of the Regions (EPP-CoR) during a debate on funds and recovery with the President and Vice-President of the EIB.
Werner Hoyer, President of the EIB said that the current pandemic is an opportunity to change and invest in sectors such as digitalisation. He added that cohesion policy will remain at the center of its policies.
Eddy van Hijum, Councillor of the Province of Overijssel and European Committee Rapporteur (CoR) on the SME strategy said that the EIB's regional impact must be strengthened. He added "We need more varied forms of finance, such as equity-based instruments, that foster sustainable growth while protecting companies from aggressive private equity or geopolitical takeovers." van Hijum also spoke about the need of a multi-level approach to stimulate regional economic development and to facilitate the green and digital transition.
Mark Weinmeister, CoR Rapporteur on a strategy for Europe's digital future and a strategy for data appealed for more investment in digital infrastructure "Throughout the pandemic we have seen how much we need digital infrastructure so it is important to mobilise funds and invest in this sector. We need to support SMEs and I appeal the EIB to focus on innovaiton and digitalisation. "
Tanya Hristova, Mayor of Gabrovo said that local and regional authorities are at the forefront of the ongoing fight against the pandemic by mobilizing all resources to support citizens. However, as a result of reduced economic activity, revenues from taxes and fees had dropped significantly leading to shortage of financial resources. "This calls for the EIB to continue to provide support to reduce regional disparities and to boost climate action through credit and advisory activities." Hristova spoke about the importance of advisory services and on the appealed for this to continue in the next programming period explaining that many regions and cities rely on and need not only financing but also technical assistance.
Lilyana Pavlova, Vice-President of the EIB said that the EIB remains committed to support the prosperity and well-being of cities and regions. "The EIB is there to help and to ensure financial and advisory support could reach small cities and regions." In his concluding remarks President Hoyer said that economic recovery, sustainability, social inclusion and climate change go hand in hand together and they need to be integrated in all local and regional projects. He appealed for more consideration of an approach based on lending, blending and advisory when supporting projects.