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Commission adopts ‘Partnership Agreement’ with Portugal on using EU Structural and Investment Funds for growth and jobs in 2014-2020

(30 July 2014)

Commission adopts ‘Partnership Agreement’ with Portugal on using EU Structural and Investment Funds for growth and jobs in 2014-2020

The European Commission has adopted a "Partnership Agreement" with Portugal setting down the strategy for the optimal use of European Structural and Investment Funds throughout the country. Today’s agreement paves the way for investing €21.46 billion in total Cohesion Policy funding over 2014-2020 (current prices, including European Territorial Cooperation funding and the allocation for the Youth Employment Initiative). Portugal also receives €4.06 billion for rural development and €392 million for fisheries and the maritime sector.

Commenting on the adoption, President of the European Commission, José Manuel Barroso said: ”The adoption of the 'Partnership Agreement' is vital to continue the support to Portugal's recovery and development. It is very much geared towards improving competitiveness, creating jobs and promoting social inclusion. It is now paramount to use the €26 billion in an efficient and productive manner, directly benefiting Portuguese people.

Our efforts must now be focused in finalising the negotiation of good quality programmes, translating the priorities set-out by the Partnership Agreement, in order to effectively channel EU resources as soon as possible to the real economy to promote growth and support the economic recovery efforts in the country.“

Commissioner for Regional Policy, Johannes Hahn, said:"Today we have adopted a vital, strategic investment plan that sets Portugal on the path to jobs and growth for the next decade. This Partnership Agreement reflects the European Commission and Portugal's joint determination to make the most efficient use of EU funding. Our investments must be strategic, according to the new Cohesion Policy - focusing on the real economy, on sustainable growth and investing in people. But quality not speed is the paramount aim and in the coming months we are fully dedicated to negotiating the best possible outcome for investments from the European Structural and Investment Funds in 2014-2020. Commitment is needed on all sides to ensure good quality programmes are put in place.”

Commissioner Hahn added: "The Partnership Agreement will focus very much on key interventions to support Portugal's economic recovery through a significant increase in its competitiveness. These include, for instance, supporting entrepreneurship and business innovation, fostering R&D knowledge transfer between academia and businesses, enhancing the competitiveness of SMEs, supporting the shift to a low-carbon economy and promoting resource efficiency, as well as contributing to the modernisation of the public administration, and investing in education, training and vocational training."

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