european commission

The European Commission has approved Malta’s National Programme for the European Regional Development Fund (ERDF), Cohesion Fund (CF) and Just Transition Fund (JTF) for the 2021–2027 financial period.

Collectively, the programme provides for a total budget of around €1,081 million and will further strengthen national investments in areas of significant importance in the socio-economic development of the country.

Some of these areas include R&I, digitalisation, and business growth, with COVID-19 accentuating the need for adequate digital infrastructure in the public and private sectors, to ensure a high degree of business continuity in a crisis and to foster recovery.

Other significant areas of focus for this program will be energy and the environment, transportation, education and health, tourism, and Gozo, with investments aimed at protecting Gozo’s environment and identity while promoting socioeconomic development and accessibility to counteract additional challenges posed by double insularity.

Minister for the Economy, European Funds and Lands, Silvio Schembri, said that this is good news for Malta. “These funds will be used to enable us to carry out a number of projects and investments in a bid to continue to increase socio-economic development in our country.”

He continued: “As a result of EU funding support, over the years we have witnessed important projects being implemented in various sectors, from infrastructure to education and health. We will also be utilising these funds to implement important projects that will further strengthen Malta’s economy”.

Parliamentary Secretary for European Funds Chris Bonett welcomed the adoption of the programme by the College of Commissioners and stated that Malta was now committed towards a successful implementation of the new programme.

“Whilst Malta will continue to build on the various actions which are currently being implemented under the current programme, the new programme will serve as a renewed impetus for investments in line with national ambitions”, stated Dr Bonett.

Related

pension

Malta has EU’s second-lowest spending on pensions

June 12, 2024
by Robert Fenech

EU pensions amount to 12.9% of GDP in 2021

The business side of Maltese theatre: What’s it like to finance show-business on the island?

June 9, 2024
by Andre Delicata

BusinessNow.mt speaks to three theatre-impresarios

ECB cuts interest rates for the first time in close to 5 years

June 6, 2024
by Helena Grech

The inflation outlook across the EU has improved markedly, resulting in the shift in direction