Europäischer Rechnungshof - European Court of Auditors
How effectively are financial instruments used in EU cohesion policy?
- Publication on 3 December at 17:00 CET
- Interviews available on request
Media advisory
On Wednesday, 3 December, the European Court of Auditors (ECA) will publish a special report on financial instruments in EU cohesion policy.
Background
In EU cohesion policy, the majority of funding is usually given as grants – one-off payments that beneficiaries do not have to pay back. Financial instruments are an alternative form of support where EU funds are delivered in the form of loans, equity investments or guarantees instead of grants. One of the advantages of these instruments over grants is that reflows can be used to support additional final recipients, leading to more efficient use of public financing.
The amount of EU money allocated for financial instruments was €16.9 billion in the 2007-2013 period; this increased to €31.0 billion in 2014-2020, and then dropped back to €19.4 billion for 2021-2027. Excluding funds that were reallocated due to the COVID-19 pandemic, about 5 % of the total EU cohesion budget was provided through financial instruments over these three funding periods. Almost all EU countries have used financial instruments, the only exceptions being Ireland and Luxembourg.
For the press
- The report and press release will be published on the ECA’s website (eca.europa.eu) at 17:00 CET on Wednesday 3 December.
- The ECA Member responsible for the report is Alejandro Blanco Fernández.
- Interviews are available, but will depend on time-slot availability.
- For statements and media queries, please contact the ECA press office at press@eca.europa.eu
Contact:
ECA press office: press@eca.europa.eu