Baltics sign a declaration on future of Cohesion Policy

  • 2023-11-28
  • LETA/BNS/TBT Staff

VILNIUS - Lithuania, Latvia and Estonia have signed a joint declaration on the future of the Cohesion Policy. The document was signed during a discussion involving the finance ministers of the three Baltic states and representatives of the European Commission in Vilnius on Tuesday.

Lithuanian Finance Minister Gintare Skaiste says that Lithuania is among the leading countries investing Cohesion Policy funds and has no intention of slowing down, the Finance Ministry said.

"The geographical situation creates uncertainties and additional challenges that other countries do not necessarily face. Particularly in the context of the Russian war, we feel more uncertainty and are more easily affected. Therefore, the targeting, speed and adaptability of Cohesion Policy instruments to countries' needs would create an additional incentive for change," she said.

In addition to security and geographical aspects, the declaration notes that further consideration should be given to the further expansion of the European Union in the development of the Cohesion Policy strategy for 2027. The declaration also refers to the need to target financial instruments so that they reach the countries that need them in time.