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Home NATIONALEU adopts agreement to fund Finland for growth
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Wed, 08 Oct, 2014 12:00:34 AM
FTimes- Xinhua Report, Oct 8
Photo AFP-Lehtikuva.
The European Commission on Tuesday adopted a partnership agreement with Finland, setting down the strategy for the optimal use of European Structural and Investment Funds throughout the country.
According to a statement of the bloc, the agreement "paves the way for investing 1.47 billion euros in total Cohesion Policy funding over 2014-2020," and Finland will also receives 2.38 billion euros for rural development and 74.4 million euros for fisheries and the maritime sector.
The EU investments will help tackle unemployment and boost competitiveness and economic growth through support to innovation, training and education in 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, said the statement.
Photo AFP-Lehtikuva.
The European Structural and Investment Funds (ESIF) consists of five funds, namely the European Regional Development Fund, the European Social Fund, the Cohesion Fund, the European Maritime and Fisheries Fund and the European Agricultural Fund for Rural Development.
All EU Member States have presented their Partnership Agreements to the Commission. The adoption of these agreements will follow after a process of consultation.
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