President Barroso launches Partnership Agreement in Portugal
President Barroso and Commissioner Hahn are in Lisbon today to mark the launch of the Partnership Agreement in a meeting with Prime Minister Pedro Passos Coelho and members of the government.
The "Partnership Agreement" was adopted by the European Commission on the 30th of July, and sets down the strategy for the optimal use of European Structural and Investment Funds throughout the country. It 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 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 nearly €26 billion in an efficient and productive manner, directly benefiting Portuguese people.”
The EU investments will help tackle unemployment and boost competitiveness and economic growth through support to innovation, training and education in Portugal's cities, towns and rural areas. They will also promote entrepreneurship, fight social exclusion and help to develop an environmentally friendly and a resource-efficient economy.
Portugal is the 10th EU Member State to have adopted a Partnership Agreement.