The European Commission on Monday adopted a 3.5 billion-euro ($3.5 billion) funding for Estonia to support the country's economic and social development, including the process of green transition and territorial cohesion, until 2027
MOSCOW (Pakistan Point News / Sputnik - 18th July, 2022) The European Commission on Monday adopted a 3.5 billion-euro ($3.5 billion) funding for Estonia to support the country's economic and social development, including the process of green transition and territorial cohesion, until 2027.
"Estonia will receive 3.5 billion Cohesion Policy funding to support economic, social and territorial cohesion in 2021-2027 in the framework of the Partnership Agreement between the Commission and Estonia, which was adopted today," the statement read.
The agreement will facilitate key EU priorities in Estonia's development, such as building an economy that is greener, circular and digital, as well as a "ecompetitive, innovative and export-oriented growth."
The funding is also intended for ensuring less waste and more resource efficiency, reducing carbon emissions via switching from road to rail transport, boosting cooperation between businesses and research institutions, and increasing fisheries and aquaculture resilience, according to the statement.
Part of the funding will go toward addressing such social issues as child poverty and education matched to labor market needs, the commission said.
Estonia is the 15th member states to adopt the 2021-2027 Partnership Agreement with the EU, after Austria, Bulgaria, Cyprus, the Czech Republic, Denmark, Finland, France, Germany, Greece, Lithuania, the Netherlands, Poland, Portugal and Sweden.
