Press Release: Additional European funds for growth, jobs and strategic investments in Spain

Spain will receive an additional 2.1 billion euros of Cohesion Policy funds, following the technical adjustment , the re-evaluation in 2016 of all national Cohesion Policy budgets for 2014-2020, in order to take account the impact of the crisis. The Commission and Spain have now agreed on the investment priorities for this new envelope and the Spanish Cohesion Policy programs have been modified accordingly. Of these € 2.1 billion, € 1.2 billion comes from the European Regional Development Fund ( ERDF), with more specifically: 345 million to invest in sustainable urban development; $ 238 million supporting research and innovation; EUR 192 million for Spanish small and medium-sized enterprises, in particular through the SME Initiative ; 125 million in energy efficiency and renewable energy and 111 million in digital technologies. As for the investments of the European Social Fund ( ESF ), which represent 40% of the new envelope (859 million euros), they will be dedicated to fight poverty and long-term unemployment. In addition, Spain received an additional € 418 million to strengthen the Youth Employment Initiative .said: “This is a new massive investment effort by Europe to heal the wounds of the crisis that remain alive in Spain.The EU gives the country the means to capitalize on its competitive strengths, its tremendous potential for innovation , and especially about the talents of the Spaniards. ” “With these funds, we are supporting Spain in the fight against youth unemployment,” added Commissioner Marianne Thyssen , in charge of Employment, Social Affairs, Skills and Labor Mobility,“These EU investments must contribute to creating quality jobs across the country.” (For further information: Johannes Bahrke – Tel .: +32 229 58615, Christian Wigand – Tel .: +32 229 62253, Sophie Dupin from Saint-Cyr – Tel .: +32 229 56169, Sara Soumillion – Tel .: +32 229 67094

Source: European Commission

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