MNI BRIEF: EC Singles Out Energy, Digital As Draghi Priorities
MNI (BRUSSELS) - The European Commission singles out energy grids, digital infrastructures, AI industrial applications and critical medicines as priority areas for boosting competitiveness in line with key recommendations of the Draghi report, according to a leaked copy of its Competitiveness Compass to be released on Wednesday.
Funding will rely on a continued repurposing of EU Cohesion Funds and financial incentives from the EIB and national development banks, supported by enhanced guarantees to leverage private funding, the report will say. (See MNI: EU To Push Securitisation In Fresh Capital Markets Drive)
There is no proposal for new money. The Commission will seek stronger coordination on industrial policy between the EU and state level and will identify other sectors which might benefit from the approach.
On defence, the Commission urges greater use of joint procurement to lower costs. EU leaders are due to meet early next week to discuss how to boost defence spending and the Commission will publish its white paper on the future of defence on March 19.