August 24 (SeeNews) - The European Commission said on Wednesday that Croatia will receive 9 billion euro ($8.9 billion) from Cohesion Policy in 2021-2027 under its new partnership agreement with the Commission, in order to promote the economic, social and territorial cohesion of its regions and its green and digital transitions.
“These investments will help reduce regional economic disparities and enhance skills, training, and employment opportunities. The EU funds will also support the development of a competitive, innovative, and export-oriented Croatian economy,” the EU executive body said in a press release.
Croatia will dedicate nearly 31% of European Regional and Development Fund (ERDF) and 39% of Cohesion Fund resources to climate objectives. A total of 2.56 billion euro are pencilled to help the country improve energy efficiency, increase the share of renewables in energy production up to 60% of electricity in 2030, enhance the circular economy and support climate resilience and biodiversity. More than 650 million euro will be invested in this latter objective.
Moreover, 179 million euro from the Just Transition Fund (JTF) will mitigate the economic and employment effects of the green transition. This will be done through decarbonising energy-intensive industries, strengthening entrepreneurship, and investing in skills of the workers, diversifying the economy in the most affected regions, enhancing cooperation between business and research, and increasing employment opportunities for the workforce.
A further 1.7 billion from the ERDF will support Croatia's innovative and smart economic transformation by increasing the competitiveness and internationalisation of small and medium-sized businesses and contributing to improve the skills of employees.
Almost 500 million euro will help improve the international competitiveness of Croatian regions by facilitating their industrial transition. Additionally, 12% from the ERDF will be dedicated to urban development and around 3% to developing smart and sustainable islands.
Nearly 1 billion euro will enhance regional, local, and cross-border mobility in all sectors, including developing a sustainable, smart, secure, and intermodal transport network linked to the Trans-European Network - TEN-T, as well as much-needed improvements in the national rail infrastructure, and further advancements in maritime transport in the coastal country.
Almost 2.5 billion euro from the European Social Fund Plus (ESF+) and ERDF will boost quality employment, skills, education, healthcare, and social services.
The European Maritime, Fisheries and Aquaculture Fund will invest 244 million euro in sustainable fisheries and protection of marine biodiversity and ecosystems in the Adriatic Sea. The Fund will also further support the development of sustainable and low-carbon aquaculture and processing sectors, the economic and social vitality of fisheries communities, and the implementation of international ocean governance. All supported actions will help Croatia to contribute towards the objectives of the Common Fishery Policy as well as the key EU policy priorities outlined in the European Green Deal, the Farm to Fork and the Biodiversity strategies.
(1 euro = 7.512 Croatian kuna)