A well-functioning funding strategy is key when raising the money for the European Union's recovery on international capital markets. In its opinion, drawn up by Judith Vorbach and adopted at the July plenary session, the Committee stresses that the smooth implementation of NextGenerationEU requires sound and sustainable funding, along with solid risk management and low borrowing costs.
Speaking during the debate, Ms Vorbach said: "Borrowing under NextGenerationEU has to be done with democratic control, legitimacy and transparency. An effective funding strategy made up of stable and sustainable funding, solid risk management as well as high creditworthiness and low borrowing costs is in the public interest and especially in the interest of civil society, which ultimately bears the market risks".
According to the EESC, the European Commission's choice to strengthen its own competences and human resources in order to deal with the funding of NextGenerationEU comes as good news. Given the strong public interest in sound funding, it is important that the strategy is managed directly by the Commission and is not outsourced. The EESC calls for a gender balance when appointing staff to the task.
The Committee also calls for the establishment of an advisory board, on which the Commission, the European Parliament, the Council, social partners and organised civil society are represented. (mp)