Structural Funds in Greece
Friday 01 June 2012
On 1 June, the European Commission announced that it approved the allocation of €180.9 million from Structural Funds to build a major trunk road to connect the Aktio area with the Western North-South Axis in Greece. This is part of the 181 priority projects – representing 56% of the investments under the cohesion policy in these countries for the period 2007-2013 – presented by the Commission in November 2011 in order to accelerate the return of growth in Greece, by investing Structural Funds. Commenting on the decision, Regional Policy Commissioner Johannes Hahn said: “This and other similar projects will contribute to the improvement of the living conditions of the Greek people by creating immediate job opportunities”. This is one of the so-called “major projects,” of which the total public funding is above €50 million and thus subject to a specific decision by the Commission, whereas smaller-scale projects are approved at national or regional levels.