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  • 09-02-2021 21:15

EU/Presidency: Portugal concludes negotiations on European structural funds


Lisbon, Feb. 9, 2021 (Lusa) - The Portuguese presidency of the Council of the EU and the European Parliament on Tuesday concluded negotiations on the European Regional Development Fund (ERDF) and the Cohesion Fund, the Permanent Portuguese Representation to the EU (REPER) said.

"Today, we have concluded the negotiations on the ERDF and Cohesion Fund Regulation, finalising the provisional agreement reached in December during the German presidency. Together, these two Structural Funds will account for more than €240 billion of European investment in 2021-2027",  the publication on REPER's official Twitter account said.

This concludes the negotiations begun by the German presidency of the Council of the European Union (EU) last December when an agreement was reached on €240 billion of European investment by 2027 for both funds and simplifying their rules and defining the scope of their support.

The European Regional Development Fund is one of the main financial instruments of the EU's cohesion policy. It aims to help reduce imbalances between the levels of development of European regions and reduce the development gap between the least favoured regions.

It pays particular attention to regions facing severe and permanent natural or demographic handicaps, such as the northernmost regions with very low population densities and island, cross-border or mountain regions.

The Cohesion Fund was established in 1994 and provides funding for projects in the environment and trans-European relations in the Member States with a national per capita gross income below 90% of the EU average.

BYC/ADB // ADB.

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