Estonia, EU – Baltic States, Financial Services, Funds

International Internet Magazine. Baltic States news & analytics Wednesday, 30.07.2014, 20:11

Estonia uses EU funds more actively than its neighbours

Juhan Tere, BC, Tallinn, 17.09.2012.Print version
An analysis by KPMG confirms that Estonia is utilising the European Union structural funds for maximum and is the best user of funds in Central and Eastern Europe, LETA/Postimees Online reports.

By the end of last year, 94% of the funds earmarked for EU support and co-financing of the state were covered with contracts and 44% of the sums were paid out.

 

In Estonia, 1,347 euros has been paid per capita from the European Cohesion Fund and European Social Fund while the average indicator for Central and Eastern Europe is 598 euros.

 

For the 2007-2013 budgetary period, Estonia has been allocated 3.4 billion euros of development support from EU funds; together with Estonia's own means that amount is 4.1 billion euros.

 

The largest amount, 880 million euros has been paid to develop the economic environment, 694 million euros has been contributed to developing living environment and 231 million euros in development of human resources.






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