Committee of the Regions and EIB Group partner for more cohesion in Europe

During a plenary debate of the Committee of the Regions with European Investment Bank (EIB) Group President Nadia Calviño, the two institutions renewed their common goal to promote convergence and economic growth across the EU’s regions, both in urban and rural areas, with a special effort to support affordable housing and social infrastructure.

Improving regions’ and cities’ access to funding and raising the quality of local investments have been key objectives of the common work carried out by the European Committee of the Regions (CoR) and the EIB Group in recent years, also thanks to a joint action plan that was renewed in this February.

Local and regional leaders welcomed the EIB Group’s stepped-up commitment to helping cities and regions succeed in their green and just transition, and their efforts to increase competitiveness. At the same time, education, healthcare facilities and housing emerged as key investment priorities for both the European Union’s Bank and municipalities.

Housing will be particularly relevant in the new EU mandate following the announcement by European Commission President Ursula von der Leyen of a European affordable housing plan. The CoR and the EIB are ready to intensify cooperation on this front.

Committee of the Regions President Vasco Alves Cordeiro said: “With a renewed agreement signed last February, the European Committee of the Regions and the European Investment Bank have strengthened their cooperation in the interest of European local communities. The many challenges the EU is facing, such as the green and digital transitions, and social infrastructure investment, require a stronger partnership and the close involvement of regions and cities. In particular, the renewed attention on housing at European level means that the joint work between the Committee of the Regions and the EIB is likely to be even more vital in years to come.”

Last year, nearly half of the EIB Group’s financing – €36 billion - in the EU went to less developed and transition regions.

“The EIB Group is committed to supporting projects that improve lives in every single region and in cities across our Union, from Valletta to Riga, ensuring that no one is left behind,” said President Nadia Calviño. “European citizens need the confidence that they can access equal opportunities wherever they live, work or study. Contributing to a modern cohesion policy alongside our local and regional partners is an EIB Group strategic priority for 2024-2027.”

Read President Calviño’s full speech here.

This article was first published on 9 October by EIB.