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Increasing co financing rates for EU funds - boosting European economic recovery

(01/08/2011)

Increasing co financing rates for EU funds - boosting European economic recovery

The European Commission has agreed to measures that should make a significant contribution to getting some of the EU's most troubled economies back on track.

Under the proposal, six countries would be asked to contribute less to projects that they currently co-finance with the European Union. The Commission makes available for Greece, Ireland, Portugal, Romania, Latvia and Hungary, supplementary EU co financing, vital for growth and competitiveness-boosting projects in each one of these countries. As a result, they will have to find less national match-funding at a time when their domestic budgets are under considerable pressure and therefore programmes that have not been executed so far for lack of national funding may be launched and inject fresh money in the economy.

Press Release: Increasing co-financing rates for EU funds - boosting European economic recovery

Proposal for a REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL amending Council Regulation (EC) No 1083/2006 as regards certain provisions relating to financial management for certain Members States experiencing or threatened with serious difficulties with respect to their financial stability: COM(2011)482

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