Brussels, 08/06/2015 (Agence Europe): On Thursday 4 June, the European Commission adopted the new regional cooperation programme (Interreg) between Spain and Portugal, which will be highlighting research and development and environmental protection.
With €110.6 million from the European Regional Development Fund (ERDF), this programme will target the Portuguese archipelagos of Madeira and the Azores, as well as the Spanish Canary Islands and those from three non EU countries Cabo Verde, Mauritania and Senegal.
The Commissioner for Regional Policy Corina Cretu explained: “This adoption means the three archipelagos can now step up a gear in their integration, with a focus on R&D and environmental protection, to capitalize on their assets”. By allocating them almost €26.2 million, the Commission is effectively promoting research and maritime infrastructure as a means to optimise the region's economic potential. The programme will also help develop risk management mechanisms to tackle climate change and develop programmes for protecting the region's natural heritage. With just under €31 million allocated, environmental challenges will be a priority in this 4th Interreg programme.
The projects developed will receive co-financing from European funds that could cover up to 85% of the costs. The total volume of the programme (counting the national contributions set at €19.5 million) stands at €130 million. Spain's absorption rates (77.5%) of European funds for the 2007-2014 period are currently below the European average (82.2%). With an absorption rate of 94.7%, Portugal is top of the EU class in this respect. (Pascal Hansens)