2023 will be «critical and essential» to be able to take advantage of «all the Algarve 2020 funds»

75% of the European funds available to the Algarve have already been paid, but it is necessary to accelerate, to execute the remainder by the end of the year

The year 2023 will be "critical and essential" to ensure that the region manages to take advantage of all the funds from CRESC Algarve 2020, an Operational Program that is currently at 75% execution, announced this Monday José Apolinário, president of the Coordination and Regional Development (CCDR) of the Algarve.

At a time when "more than 240 million euros have already been paid", of the 318 million allocated to the 1538 projects that were approved, in total, José Apolinário highlights the need to make an effort to take advantage of the "approximately 105 million euros that still need to be implemented» of the Community Support Framework that was in force between 2014 and 2020, but whose approved projects can be completed by the end of 2023.

«About half of this amount relates to projects by public entities», revealed the president of CCDR Algarve. On the private sector's side, the bulk of the funds to be executed concerns operations related to “competitiveness, science and companies”.

Of the 25% of funds still to be implemented, "about 5% concerns the European Social Fund and the rest ERDF funds", concluded José Apolinário.

The latest monthly information on the Algarve 2020, provided by CCDR Algarve, highlights projects by Nine Fingers Technologies (Axis 5 – Investing in employment), Santa Casa da Misericórdia de São Brás de Alportel (Axis 6 – Affirming social and territorial cohesion ) and the Francisco Fernandes Lopes School Group, from Olhão (axis 7 – Reinforcing competences).



Read some more!
A strong region needs a strong press and, these days, the press depends on its readers. We make all Sul Infomação content available free of charge, because we believe that it is not through barriers that the public approaches responsible and quality journalism. Therefore, your contribution is essential.  
Contribute here!