Commission adopts European Structural and Investment Funds ‘Partnership Agreement’ with Greece
The European Commission has adopted a "Partnership Agreement" with Greece setting down the strategy for the optimal use of European Structural and Investment Funds in the country's regions and cities. This paves the way for €15.52 billion current prices in total Cohesion Policy funding (including European Territorial Cooperation funding) and €4.2 billion for rural development to be invested in the country’s real economy. The allocation under Fisheries and Maritime Policy will be finalised and published this summer.
Today's agreement sets the foundations for a new growth model in Greece, thanks to EU investments. The adoption of the Partnership agreement comes timely to support Greece's efforts to exit from the crisis. Competitiveness and innovation of SMEs, sustainable job creation and tackling unemployment through capacity building and development of human resources, environmental protection, modernisation of public administration and promotion of structural and administrative reforms as well as developing and completing infrastructures for socio-economic development are among the key strategic choices that will produce visible results in the near future.
Greece has made smart choices and prioritised its investments with a special focus on the sectors of tourism, energy, agro-food, environment, blue economy and logistics, which will be the primary drivers for growth and jobs, while culture, specialised health services, aquaculture, pharmaceuticals, ICT, waste management, trade and freight transport services will also play a prominent role for Greece's future growth model.
For 2014-2020, Greece has been allocated around € 15.52 billion (current prices) in total Cohesion Policy funding:
- € 7.03 billion for less developed regions (Eastern Macedonia and Thrace, Central Macedonia, Thessaly, Epirus, Western Greece)
- € 2.31 billion for transition regions (Western Macedonia, Continental Greece, Ionian Islands, Peloponnesus, Crete, North Aegean Islands)
- € 2.53 billion for more developed regions (Attica, South Aegean Islands)
- € 3.25 billion under the Cohesion Fund
- € 231.7 million for European Territorial Cooperation
- €171.5 million for the Youth Employment Initiative.