The European Committee of the Regions (CoR) and the EIB Group have renewed and reinforced their long-standing cooperation today with the adoption of a new joint Action Plan for cooperation in 2021.

Through its financing, blending activities and advisory services, the EIB Group – comprised of the European Investment Bank (EIB) and the European Investment Fund (EIF) - works with many of Europe's regions and local authorities. It helps deliver growth, jobs, cohesion and a just transition while supporting climate action and environmental sustainability as the EU’s climate bank.

The CoR and the EIB Group have agreed annual joint Action Plans since 2015, and during the CoR plenary session of October 2020, EIB President Hoyer and CoR president Tzitzikostas reaffirmed the two institutions' commitment to this joint work.

The fundamental objectives and ambitions of the CoR and those of the EIB Group go hand in hand: from enabling a fair and sustainable economic transition which leaves no region behind, through implementing the European Green Deal, to strengthening cohesion and resilience across all EU territories, or catalysing the post-COVID-19 recovery. In each of those areas and more, the CoR and the EIB both stand to gain from working closer together at the service of all EU citizens.

The renewed Action Plan consists of a broad range of joint activities, for example a brochure on financial assistance available to local and regional authorities in EU accession and neighbourhood countries, or a workshop to highlight the opportunities of financing and advisory services for cities and regions under InvestEU. The plan foresees many such common events and joint projects as well cooperation between EIB Group specialists and CoR rapporteurs on relevant files. The joint actions cover many policy areas, from public investment and cohesion, to the Green Deal and neighbourhood policy.

The shared objective of planning common activities is to foster awareness, find synergies, improve policy proposals and implementation, and ultimately help deliver high-quality EU-supported projects that benefit citizens and businesses alike. Thanks to this cooperation, the CoR will support Europe's local and regional authorities by helping to mobilise the EIB Group's expertise in addressing their needs.