CRESC Algarve 2020 still has 60 million euros of investments to complete by December

Municipalities and companies represent more than half of the investments that are not yet concluded

The CRESC Algarve 2020 program still has ongoing investments totaling 60 million euros, which will have to be completed “by December” next, announced the Commission for Coordination and Regional Development (CCDR) of the Algarve, responsible for managing European funds. in the region.

This body adds that, "by December, all projects approved under the Algarve 2020 must be completed", as well as "the expenses incurred under the Portugal 2020 partnership agreement must be submitted and paid".

At the end of July, with the validation of expenditures carried out under the Algarve 2020 completed, the region had an overall execution rate of 80% (80,47%), of which 80% (79,54%) in the European Development Fund Regional (ERDF) and 83% (83,10%) in the European Social Fund (ESF). The commitment rate stood at 108% (107,51).

The 60 million euros that are yet to be implemented and with projects in progress are distributed, generally, by the five types of final beneficiaries or promoters.

In the first place, the municipalities, with projects in progress and in the execution process, representing an amount of 16 M€ (including 7 M€ in cycle paths and energy efficiency).

Then, the beneficiaries of the various measures of the European Social Fund, with 14 M€ in ongoing projects.

The University of Algarve and scientific infrastructures also have ongoing investments amounting to approximately €12 million, including the first phase of the clinical research center of the Algarve Biomedical Center (ABC), in Loulé, and the CELERATOR knowledge transfer center, in Autodromo Internacional do Algarve, in Portimão.

As for companies, €15 million are underway in productive innovation and internationalization projects.

Finally, there are social and health facilities, with around €3 million of ongoing European investment funds.

«As has been repeatedly conveyed to all promoters, achieving full implementation of the European funds allocated to the Algarve region depends on this networking and on all promoters and final beneficiaries», concludes CCDR Algarve.