Canary Islands will have 1,290.7 million euros from the ERDF 2021-2027 program, an "ambitious and balanced strategy" that pursues three main objectives for the islands: sustainability, the development of the smart economy and social cohesion, according to the Director of Regional Policy of the European Commission, Mónika Hencsey.
The head of Regional Policy of the Commission, together with the Vice President of the Government of the Canary Islands, Román Rodríguez, and the General Director of European Funds of the Ministry of Finance, Esperanza Samblás, among other authorities, presented this Wednesday to businessmen, unions and NGOs this aid program co-financed by the State and the Canary Islands Executive by 15%.
The plan, approved on December 14 by the European Commission, is important not only for the volume of investments it contains, but also for the purpose it has set: 383 million will be allocated to achieve a more competitive and intelligent economy; 342 million, to make it greener; 25 million, to make it more connected; and 298 million, to make it more social and inclusive.
This money allocated to the Canary Islands to support the competitiveness of companies and economic and employment development should serve to reduce the unemployment and GDP gap and be in the same position of advantage as the rest of the Spanish territory, Hencsey stressed.
Canary Islands receives 1,290 million from the EU to modernize its economy
The three main objectives of the item from the European Regional Development Fund are to promote sustainability, smart economy and social cohesion
March 8 2023 (13:57 WET)
Updated in
March 8 2023 (13:57 WET)
