The European Investment Bank's two-day Forum in Bremen highlighted the impact that the new member countries from Eastern Europe will have on the regional development policies of the European Union.
The EIB's Forum "Regional Development - Making Efficient Use of Financial Resources" brought together some 350 specialists from government, industry and banking circles to consider the differences in economic performance between the regions in Europe, and examine the reasons for such differences. The Forum closed today.
EIB President Philippe Maystadt pointed out that current regional development policies within the European Union had encouraged real successes in certain less developed regions, particularly in Spain, Portugal and Ireland. However, even within successful individual states, the economic gap between regions had not necessarily narrowed. Experience had shown that well-balanced planning, backed by good infrastructure, and incentives to attract industry, with a skilled workforce and dependable and efficient public authorities, were crucial ingredients for success.
Discussion focused on the need for good co-ordination between all important actors in the regions, between regions and their central governments, and with the European Commission, as well as closer co-operation between the Commission and the EIB, as vital to ensure the most efficient use of regional assistance. Greater efficiency is essential because of the new challenges from the information society but mostly from the enlargement of the European Union.
German Finance Minister Hans Eichel, stated that current EU regional policy with its high levels of assistance could not be expected to be transposed to Central and Eastern Europe. This therefore implied it was crucial to make a better use of financial resources. This further implied that the European Union's financing institution, the EIB, will have an even greater role in supporting regional growth in Europe.