Structural funds in the Baltic StatesJune 20, 2014
Hat: Agreements have been concluded between the Baltic States and the European Commission for the management and an optimal use of structural funds in these countries
Funding Scheme: 2014-06-20
Pgm2014 2020: Yes
The European Commission has adopted the “Partnership Agreements” with the Baltic States (Latvia, Lithuania and Estonia) setting down the strategy for the optimal use of European Structural and Investment Funds to benefit the countries’ regions and people.
Today’s agreement paves the way for investing:
In Latvia: €4.51 billion in total Cohesion Policy funding over 2014-2020 (current prices, including European Territorial Cooperation funding), €1.07 billion for rural development and almost €140 million to support the development of the fisheries and maritime sector.
In Lithuania: €6.82 billion in total Cohesion Policy funding over 2014-2020 (current prices, including European Territorial Cooperation funding), €1.61 billion for rural development and €63 million to provide funding for the development of the maritime sector and implementation of the Common Fisheries Policy.
In Estonia: €3.59 billion in total Cohesion Policy funding over 2014-2020 (current prices including European Territorial Cooperation funding), €726 million for rural development and €101 million for the fisheries and maritime sector.
The EU investments will improve economic productivity in the Baltic States, promote innovation and R&D investments and contribute to the creation of a modern, sustainable and efficient transport system. They will contribute to a balanced territorial development and the creation of an environmentally-friendly and resource-efficient economy, aiming to create quality jobs and fight social exclusion. The investments will also enhance the quality of the education system and the effectiveness of public administration.
The European Structural and Investment Funds (ESIF) are:
– The European Social Fund
– The Cohesion Fund
Url description: European Commission press
Url info description: http://europa.eu/rapid/press-release_IP-14-701_en.htm