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EU Deal To Raise Development Aid To Save Greece E440m in 2011
BRUSSELS (MNI) - Greece could save as much as E 440 million this year on investments to boost its economy and competitiveness after the European Commission agreed today to increase the EU's contribution to targeted investment projects.
EU commissioner for regional policy, Johannes Hahn, and Greek minister for regional development Mihalis Chrysohoidis announced today in Brussels an agreement to lift the proportion of such investments co-financed by the EU from 79% to 85%.
Total savings to the Greek authorities as a result of the increase are expected to amount to E2.1 billion for projects between 2007-2013.
The money for Greece comes from development funds set aside by the EU to boost the economies of poorer member states.
European Commission president Jose Manuel Barroso last month announced a plan to grant accelerate Greece's access to funds earmarked for the country but held up in some E7.7 billion euros worth of "sleeping" projects that have yet to start.
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Aiutini per superare la recessione.
BRUSSELS (MNI) - Greece could save as much as E 440 million this year on investments to boost its economy and competitiveness after the European Commission agreed today to increase the EU's contribution to targeted investment projects.
EU commissioner for regional policy, Johannes Hahn, and Greek minister for regional development Mihalis Chrysohoidis announced today in Brussels an agreement to lift the proportion of such investments co-financed by the EU from 79% to 85%.
Total savings to the Greek authorities as a result of the increase are expected to amount to E2.1 billion for projects between 2007-2013.
The money for Greece comes from development funds set aside by the EU to boost the economies of poorer member states.
European Commission president Jose Manuel Barroso last month announced a plan to grant accelerate Greece's access to funds earmarked for the country but held up in some E7.7 billion euros worth of "sleeping" projects that have yet to start.
***
Aiutini per superare la recessione.