Local finances

Vilnius,Lithuania  — The Council of European Municipalities and Regions (CEMR) actively participated in the event "Resilient Cities and Regions: Impact of Public Investments on Economic and Social Development at the local level," organised by the Committee of the Regions. The seminar's primary focus was to assess the influence of public investments on the economic and social growth of cities and regions and to exchange insights and experiences on local public investment, green infrastructure development, and digitalisation scaling within the European Union.
 
The event gathered esteemed experts, policymakers, and representatives from various regions and municipalities across the EU engage in discussions and share their perspectives on the critical role of public investments in shaping sustainable development.
 
Carol Thomas, Interim Director of Policy at CEMR and speaker at the event, emphasised the significance of effective governance in partnership for achieving favourable policy outcomes. Drawing on CEMR's research, Thomas highlighted that local and regional governments play a substantial role, accounting for 64% of investments linked to climate and environmental actions.
 
Carol stated: "CEMR's studies have shown the importance of robust governance-in-partnership for effective policy outcomes. Local and regional governments account for 64% of investment linked to climate and environment actions, and their contribution is essential if we want to achieve the objectives of the green and digital transition."
 
Furthermore, she insisted on the vital role of local finances, asserting that investments in local infrastructure and public finances are pivotal in bolstering Europe's recovery: "Shoring up our local finances is not just a nice to have. Investment in local infrastructure and public finances is key to boosting Europe's recovery and reducing the innovation gap".