Malta fully exploits EU allocated funds

Jonathan Pisani | Published on 23 Feb 2012

Ccmalta Default

 

The European Commission has lauded Malta’s resilient pursuit in developing and strengthening its economy.  It ranked fourth from the front amongst the European Union Member States for best allocating EU structural and cohesion funds. 

Malta was provided a €833 million facility from the EU Structural and Cohesion Funds for the 2007 – 2013 financial period.  The use of these allocated funds is subject to approval by the European Commission on applying a set of assessment rules and compliance requirements.

The European Commission has so far approved Malta’s use of the vast majority of these funds; to date Malta has applied 91% of the allocated funds, this represents an investment in Malta of €758 million over the last 6 years.  The funds have been invested in a number of projects, including strengthening the transport and environment sector. 

The application of these funds stands at 76% for the EU-wide average, which further demonstrates the extent of Malta’s efforts to push forward its economy.  The EU is at present negotiating the allocation of new structural and cohesion funds for the subsequent seven year period which shall be concluded by the years’ end. 



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