48% of the European CRESC Algarve 2020 funds have already been injected into the economy

Announced this Monday José Apolinário

José Apolinário – Photo: Hugo Rodrigues | Sul Informação

Almost half of the 318 million euros of EU funds from the CRESC Algarve 2020 Operational Program have already been injected into the Algarve's economy, announced this Monday José Apolinário, president of the Algarve's Regional Coordination and Development Commission (CCDR), at a meeting with journalists .

According to the head of this entity, the execution rate of the Algarve Operational Programme, whose approved projects can be completed by 2023, «is approaching 50%». As for the commitment rate, "it has now reached 100 percent".

“Our execution rate was 48% at the end of May and we want to reach 49% by the end of June. Our goal is to reach 60% of execution by the end of the year», he said.

At the moment, “private companies have a higher execution rate than public entities”.

Among the private initiatives, there are projects by companies such as Monchique water, Sun Concept, intelmatis and sparos, among many others.

The list also includes projects that involve the academy, namely that of promotion of active aging, from the Algarve Biomedical Center, and the Medical Simulation Center of the Faculty of Medicine of the University of Algarve.

The area of ​​health and well-being, in which these last two projects are inserted, has a weight of 5% of the total cake of the Algarve 2020, which represents a contribution of «17 million euros».

These and other projects supported by CRESC Algarve 2020 can be better known in videos published by CCDR Algarve on the YouTube channel of this Operational Program, in an initiative that aims to "stimulate" the business fabric and agents in the region to advance with applications for European funds.



From here, and after reaching the goal of 100% commitment at the end of last month, CCDR do Algarve, the managing entity of PO CRESC Algarve 2020, will start preparing to accept applications in Overbooking, that is, that they will be on the waiting list to receive European funding.

«We are currently deciding how the Overbooking, but we're also going to start disengaging. This is another point: those who are unable to carry out, will have to give their place to others, whether they are private or public entities», he warned.

After all, stressed José Apolinário, when applying for projects for European Union Funds, the proponents also "assume the commitment to guarantee their execution".

“We will have to go through a phase of disengaging some projects, in order to guarantee a full execution of the funds”, he summed up.

José Apolinário added that, for now, "the most emblematic projects are underway or in process" and will even move forward.