Shared Management of EU-backed Financial Instruments in Cohesion Policy. Combination of Support: Grants and Financial Instruments – a Step Backward or a Watershed Moment for Cohesion Policy Financial Instruments?
Shared Management of EU-backed Financial Instruments in Cohesion Policy. Combination of Support: Grants and Financial Instruments – a Step Backward or a Watershed Moment for Cohesion Policy Financial Instruments?

Author(s): Iva Petkova
Contributor(s): Savina Mihaylova-Goleminova (Editor)
Subject(s): Law, Constitution, Jurisprudence, Civil Law, Commercial Law
Published by: Сиела Норма АД
Keywords: Cohesion Policy; financial instruments; shared management; combination of support; grants
Summary/Abstract: This chapter examines the growing role of the Cohesion policy of the European Union and its evolvement from a redistribution mechanism in the 1980’s to the main investment policy of the Union 20 years later. Special attention is paid to its ability to cope with multiple crises and to the dynamics in its delivery mechanisms in a shared management context – the change in the rationale from alternative use between grants and financial instruments (FI) to their combination. The main focus of the chapter is the proposed combination of financial instruments (FI) with grants, allowed under Article 58(5) of the Common Provisions Regulation 2021/1060, and its potential implications for the 2021–27 programming period. Is this a step backward or a breakthrough moment for the deployment of FI under the Cohesion policy, having in mind its new digital and green dimensions?

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