Philenews

€24 Billion for Sustainable Urban Development in the EU by 2027

Published February 26, 2026, 17:14
€24 Billion for Sustainable Urban Development in the EU by 2027

The European agenda for cities, the mid-term review of the Cohesion Policy 2021-2027, and support for the eastern regions of the EU were at the center of today's session of the EU General Affairs Council. The President of the session, Minister of Finance Makis Keravnos, emphasized the importance of access to opportunities for all regions. Mr. Keravnos highlighted the crucial role of cities in implementing European priorities such as competitiveness, innovation, and sustainable development, as well as in achieving social, economic, and territorial cohesion. At the same time, he acknowledged the multiple challenges faced by cities. It was noted that the Cohesion Policy has significantly contributed to strengthening sustainable urban development, with over €24 billion allocated for this purpose during the 2021-2027 period. The need for continued support for cities was emphasized, leveraging the achievements of the current period. Regarding the mid-term review of the Cohesion Policy, the Minister stated that the goal is to leverage experience and draw lessons for the next programming period. Discussions focused on how incentives and flexibility mechanisms can be designed in the next multiannual financial framework, so that cohesion policy is even more aligned with the Union's strategic priorities and enhances competitiveness and prosperity.