Algarve reaches 66% implementation of European funds

According to CCDR do Algarve

The CRESC Algarve 2020 Operational Program reached a rate of 66% at the end of July 2022, according to data revealed today, Thursday, August 11, by the Algarve Regional Coordination and Development Commission.

At the end of last month, «1557 projects in the Algarve PO were approved, with an eligible investment of 611 million euros, which corresponded to community funding of 345 million euros and an execution of 327 million». The commitment rate is at 108% and the payments made amount to 215 million euros.

on June 30th, the execution rate was around 64,5%.

«From the implementation of the Incentive Systems (SI), we highlight the SI Qualification and Internationalization of SMEs typology, with 442 projects approved and 20,1 million euros in funding», according to the CCDR.

by county, Faro is, by far, the one with the largest number of projects and more funds, something that «is justified by hosting the bodies of the public administration and the University, respectively with 36 and 45 projects, and with 28 and 21 million euros of approved fund, although these may occur in other territories'.

«In the territorial instruments, the Action Plans for Urban Regeneration (PARU) are highlighted, which have a commitment rate of 98,5% and an execution rate of 69,3%», adds the same entity.

The July 2022 bulletin “Monthly Information on the Algarve Operational Programme”, which can be consulted in full here, also highlights three projects aimed at promoting research and innovation by companies in R&I and affirming social and territorial cohesion», promoted by the company Wifi4Media, by Caixa Geral de Depósitos and by the municipality of Castro Marim.