Chapter 12: Cohesion policy, EU economic governance and the role of the European Investment Bank
This chapter looks at the relationships between Cohesion Policy and the evolution of European Union (EU) economic governance and to the connections between Cohesion Policy and the European Investment Bank. In the crisis years Cohesion policy has been operating in a complex macroeconomic context that has limited its effectiveness. The reinforced EU economic governance in response to the crisis generated a considerable impact on the 2014_2020 policy reform, based on the idea that a healthy macroeconomic environment underpins sustainable regional development and convergence. In this context, the chapter looks at the increased relationships between Cohesion policy and the European Investment Bank, analysing the increased operational interlinkages between grants and financial instruments and the augmented consistency across the implemented instruments resulting from this integration
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