Editor's note
International Internet Magazine. Baltic States news & analytics
Friday, 29.03.2024, 14:12
European support to facilitate investments in the Baltic States: 2014-20
The
European Commission has adopted "partnership agreements" with the
Baltic States (Latvia, Lithuania and Estonia) setting down the strategy for the
optimal use of European structural and investment funds aimed to benefit the
countries' economic development, regional optimization, research, education and
people’s wellbeing. The agreements were adopted on 20th June 2014.
There
are five “investment sectors” in the European Structural and
Investment Funds (ESIF); they are: the European Regional Development Fund (ERDF), the European
Social Fund (ESF), the Cohesion Fund (CF), the European
Maritime and Fisheries Fund (EMFF) and the European Agricultural Fund for Rural Development
(EAFRD).
In
total, the Baltic States would get over €17,7 bln: € 5,72 bln for
Additional EU’ investments in the Baltics
The EU investments will improve
economic productivity in the
In
In
In
Commission’s opinion
Several commissioners, including the Commission President, expressed their views on the importance of European funds for the
Thus, commenting on the adoption of the "partnership agreements" with the Baltic States, President of the European Commission, José Manuel Barroso underlined that European funds are, generally, to support the strategies of the three
European Commissioner for Regional Policy, Johannes Hahn underlined that “investment funds” are “vital, strategic investment plans that will guide the Baltic States on the path of jobs and growth” for the next seven years. The “partnership agreements” reflect the EU’s and member states joint determination to make the most efficient use of EU funds. Thus, in the context of the reformed European cohesion policy, these investments (in the form of funds) must be strategic, focusing on the real economy, on sustainable growth and investing in people.
The “investment strategies”, he said, are built on the on-going efforts of the
Commissioner for Employment, Social Affairs and Inclusion, László Andor emphasized that the EU’s finalized partnership agreements with
Commission expressed a view that the EU’s “investment money” will lend a significant support to meeting the EU-2020 employment and poverty targets while focusing on the specific needs of each country. Hence, “investment in people is a key to achieving sustainable and inclusive growth in the Baltics”, he concluded.
Commissioner for Agriculture and Rural Development, Dacian Cioloş stressed that partnership agreements are important to ensure that EAFRD support for rural development programs is coherent with other European structural and investment funds, as well as other EU administrative and financial instruments. The EU funds, he added “ensured synergy and complementarity, coordination and greater efficiency in the use of the EU financial support”; rural development has been a vital pillar of EU agricultural policy addressing economic, environmental and social issues coped with territorial cohesion in rural areas according to specific needs of
Commissioner for Maritime Affairs and Fisheries, Maria Damanaki underlined that the reform of the EU’s common fisheries policy is aimed at fostering environmentally sustainable, innovative and competitive fisheries and aquaculture, including marketing and processing. The European Maritime and Fisheries Fund is also the financial instrument that will promote employment and territorial cohesion by providing financial support to fishermen, fish farmers and coastal communities in the
Reference: European Commission, IP/14/701 “Commission adopts ‘Partnership Agreements’ with Baltic States for EU Structural and Investment Funds, 2014-20”; 20 June 2014.