Brussels, 15/12/2011 (Agence Europe) - On Thursday 15 December, the Council of Ministers of the EU adopted without debate the regulation that will authorise, until the end of 2013, the increase in co-funding rates for the European Agricultural Fund for Rural Development (EAFRD). This will cover up to 95% of eligible public spending in regions benefiting from the convergence objective and up to 85% of public spending in other regions experiencing serious financial stability difficulties. This derogation will benefit Greece, Ireland, Portugal, Latvia and Romania. All these countries receive financial assistance from the EU. This stimulus is expected to help facilitate improved EU fund management and help speed up investment in member states and the regions, as well as help optimise the impact of funding on the economy. The European Parliament approved the regulation on Tuesday 13 December (see EUROPE 10515). (LC/transl.fl)