The mid-term review should also be used to reinforce the crucial role of cities and functional urban areas in delivering many Union objectives by giving Member States the possibility, in close cooperation with the regional and local authorities and keeping in mind the regional specificities and the scope of the cohesion policy, of reallocating financial resources from the ERDF to reinforce the European Urban Initiative referred to in Article 12 of Regulation (EU) 2021/1058. In addition, in order to facilitate the uptake of key innovative actions identified under the European Urban Initiative, such actions should benefit from a simplified selection procedure for support under cohesion policy programmes. To enhance flexibility in the use of resources, Member States should also be provided with the possibility of reallocating ERDF resources from their programmes under the Investment for jobs and growth goal to the Interregional Innovation Investment Instrument referred to in Article 13 of Regulation (EU) 2021/1058.
Text as published in the Official Journal, reproduced verbatim (including any typographical quirks of the source). For the authentic version, see EUR-Lex.
