A strong and adequately funded Cohesion Policy can contribute to turning challenges into opportunities and inequalities into growth prospects, said the President of Cyprus' Parliamentary Committee on Labour, Welfare and Social Security Andreas Kafkalias in Budapest, during the proceedings of the Inter-Parliamentary Conference on Stability, Economic Coordination and Governance in the European Union. According to a House press release, in his intervention during the last session of the Conference, Kafkalias stressed that Cohesion Policy should not be just a financial mechanism, but the cornerstone of European integration, strengthening solidarity between member states. In this regard, he stressed the importance of continuing to invest in structural reforms aimed at enhancing competitiveness, creating quality jobs and providing equal opportunities for growth, taking into account the specific characteristics of each region. Furthermore, he underlined the need to update Cohesion Policy, in order to address mode rn challenges more effectively and promote regional development and prosperity. A strong and adequately funded Cohesion Policy can help turn challenges into opportunities and inequalities into growth prospects, he concluded. Source: Cyprus News Agency