€400 million in EU funds are being dedicated to the environment and an inclusive society over the next seven years, EU Minister Louis Grech said today.
Presiding over the launch of the 2014-2020 Operational Programmes for Malta at the Grand Hotel Excelsior, Mr Grech, who was accompanied by EU funds parliamentary secretary Ian Borg, said the programmes would contribute to the socio-economic development of the country and a better quality of life.
He said the funds were equivalent to a direct injection of almost two per cent of GDP per annum.
Major other fund allocations include €72 million for the university and private industry to stimulate research and innovation, €53 million for SMEs, €57 million for the low-carbon economy, €38 million for ICT, and €100 million for sustainable transport.
The operational programmes are the implementing arms of Malta’s partnership agreement.
The programmes set out the government’s investment plan for the EU Funds 2014-2020 for Malta in line with Malta’s priorities as well as the Europe 2020 targets.
Two operational programmes have been approved by the European Commission for Malta. The first will be jointly funded by the European Regional Development Fund and the Cohesion Fund for a total financial envelope of €718 million.
It is aimed to further economic development, improve environment sustainability and invest in a more social inclusive society.
The second will be funded by the European Social Fund for a total financial envelope of €132 million. Its primary objective is to invest in human capital to create more opportunities and promote the well-being of society.
The two programmes complement each other in the interventions and actions they will support and will cover the whole territory of Malta. Gozo’s territorial challenges will be addressed in a horizontal manner, across both programmes, through strategic investments with a view to improving accessibility, enhancing competitiveness and providing educational and training opportunities.
The first calls for proposals will be issued next week.