European funds, where do they go?

European funds, where do they go?

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There are numerous European funds intended forAgriculture and at Rural Development, but how are these employed financing? There European Court of Auditors has started a control program in order to ascertain some flaws in the system of assignment of funds, especially in some countries.

In the balance sheet of European funds an important item is meant for rural development. Funds amounting to a total of € 11.1 billion, mainly intended for farms. The reference measure is 121 and the funding can relate to the purchase of agricultural tools or more complex projects such as the setting up of plants for the production of biogas.

The European Court of Auditors (Cce) carried out a management audit on measure 121 relating to the modernization of farms; it seems that European funds, if well used, could increase the profitability of each user and upset the agricultural sector which, especially in Italy, needs a change.

The analysis carried out by the CCE was able to ascertain that not all investments were focused on the concrete priorities and needs of the Member States. The systems of assignment of European funds they appear to be inefficient and do not apply good selection criteria. The management control of the Cce does not provide reliable results on measure 121 and does not facilitate the monitoring of funds, however, it seems to emerge that not all Member States are truly virtuous. The consequence? Funds invested in companies with dubious reliability.

In this regard, the Court recommends that Member States put in place effective procedures to prevent them from being granted grants to projects where the financial profitability of the investment or the sustainability of the company are doubtful. For now this is only a recommendation, with the hope that future measures for the allocation of European funds have more targeted and difficult to overcome evaluation criteria.

Under the lens of the European Commission, the agencies of the Member States that deal with the allocation of European funds. As hoped for in Parliament, we could act upstream and draw up more selective criteria, but downstream controls certainly wouldn't hurt.

edited by Anna De Simone, on twitter @annadesimone

Video: European Parliament plenary debate on the ECB Annual Report 2020 (July 2022).


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