3. Additional resources; use of EU-structural funds which were not drawn down
Structural funds provide between two to three percent of GDP to regions with developmental deficits.
The draw-down of these funds has been especially difficult since 2007, being slowed down by
the crisis. For that reason, a big sum of pledged, but not drawn down, funds will be available in 2012
and 2013 (including final down payments until 2015). For the time being some 25 % of the Regional
Funds are not even allocated. Even more important, not all the volumes being allocated will be
drawn down because of delays and difficulties linked to the crisis. In the framework of an immediate
program to recover growth, the task ought to be to rededicate these funds and channel them for
activities for growth. It has been estimated that up to € 80 billion are available for such re-use. To
achieve this task, more flexibility by national and European administrations is required. What is also
needed is targeted regrouping of funds into economically viable projects, especially “shovel ready”
ones in areas such as:
- energy efficiency and renewable energy;
- promoting competitive, preferably export-oriented enterprises
- financing of small and medium sized enterprises that are credit rationed;
- financing of innovation in enterprises and enterprise spin-offs.
The re-channeling of available resources should be designed to not just provide funds, but combined
with technical support to assure the appropriate draw-down of funds. This technical support should
include help with preparation of application documents, support with bidding processes and project
management during implementation.