€164 million in EU funds released for 33 projects

The EU has just approved the release of the first batch of funds under the 2007-2013 financial programme, signalling the biggest ever investment in Malta which should contribute towards a radical upgrade of the island's infrastructure.

Following submissions by the government earlier this year, Brussels has given the green light for the allocation of €164 million out of a total of €855 million granted to Malta under the current seven-year financial perspective.

Malta's €855 million allocation until 2013 was negotiated in 2005 by the government after it was concluded that it qualified for the highest amount of funding possible under current rules as the country was considered underdeveloped by EU standards. The first projects approved, 33 in total, include investment in crucial sectors of the economy, particularly tourism, road infrastructure and education.

The biggest project approved so far deals with the restoration of all the historic bastions and fortifications. This project, costing some €32.2 million, will be administered by the Resources Ministry and should be completed by 2013.

Tourism, the biggest sector of the economy, will also benefit directly. The Malta Tourism Authority has been entrusted with upgrading one of Malta's main tourism zones. This project has been allocated €12 million and will include major landscaping.

This project should be ready by 2011 and the tourism authorities are currently discussing which area to embellish. Another €4 million was allocated to upgrading two coastal stretches in Sliema and Qawra. At the same time, Heritage Malta will be utilising an additional €8 million until 2013 to implement a key heritage conservation project at one of Malta's major archaeological sites.

Fresh funds will also be injected into education, particularly at the University of Malta and MCAST. A total of €27.4 million has already been allocated to the University with one of the major projects costing more than €13 million - the construction and equipping of a state-of-the-art ICT faculty at the Tal-Qroqq campus. This project is expected to be completed by 2011.

Gozo, which will be absorbing 10 per cent of all EU funding, already got the green light for three major projects. €7.8 million has been allocated for the reconstruction of Xlendi Road and Ta' Pinu Road, while Villa Rundle, Victoria's open green space will see a total transformation with an investment of €2.1 million. In addition, Gozo's hospital will have a brand new operating theatre and a radiology unit costing €2.1 million.

Roads will also benefit from EU funds with tens of millions being allocated under the seven-year period to upgrade Malta's main arteries to European levels.