Econostrum | Economic News in the Mediterranean

Slovenia gets €3.26 billion from the EU to support the sustainable development of its economy

Written by Eric Apim on Tuesday, September 13th 2022 à 14:40 | Read 561 times

The European Commission will help Slovenia with an envelope of 3.26 billion euros (photo: F.Dubessy)
The European Commission will help Slovenia with an envelope of 3.26 billion euros (photo: F.Dubessy)
SLOVENIA. Under the cohesion policy, Slovenia will receive a total of € 3.26 billion of European funds to improve its economic competitiveness, its digital transition and to support its climate objectives.

This sum will be paid in stages until 2027, according to the partnership agreement adopted on Monday 12 September 2022 in Brussels.

Slovenia will be able to invest €806 million under the European Regional Development Fund (ERDF) and the Cohesion Fund for a greener, low-carbon transition to a resilient and carbon-neutral economy. "The funds will contribute to the decarbonization of the country, as well as to the development of renewable energy. In particular, investments will be made in solar and wind energy capacity, and in improving the energy efficiency of buildings," says a European Commission statement.

They will also be allocated to mitigating climate change risks, promoting the circular economy in businesses, and ensuring efficient management of water resources, and protection of ecosystems and biodiversity.

769 million to fight unemployment and the aging of the population

The ERDF will also provide €727 million to research and innovation to create favorable conditions for businesses and promote the digital transformation of the economy. 511 million (ERDF + Cohesion Fund) will go to support "sustainable and intelligent mobility and will help to fill the gaps in the public passenger transport sector, in particular by modernizing and strengthening the Slovenian railway network," the statement said.

The European Social Fund Plus (ESF+), in conjunction with the ERDF, will provide €769 million to support Slovenian policy to reduce the problems caused by long-term unemployment and an aging population. The money will be invested in professional development and lifelong learning and will help improve the working environment and conditions for older workers through employer training and workplace adaptation.

Some of these ESF+ funds will target massive investments in the long-term care system and in social and community services to support "active and healthy ageing". This will include the recruitment of new staff, and modern training and education programs. They will also help reduce social exclusion and the risk of poverty for vulnerable groups. Young people with special needs, for example, will be helped to access education and the labor market. In addition, €29.4 million will be spent on food parcels for disadvantaged groups at risk of poverty.

Twentieth partnership agreement

At the same time, the European Commission will help this country, which has been a member state since 2004, in its energy transition. The Just Transition Fund (FTJ) is providing €249 million to the Savinjsko-Šaleška region to enable it to move away from coal by 2023, and to the Zasavje region to ensure its conversion. "The JTF will focus in particular on strengthening training and employment opportunities, supporting the diversification and resilience of the local economy and rehabilitating degraded areas," says the European Commission.

The package is complemented by an allocation of €23.9 million from the European Fund for Maritime Affairs, Fisheries and Aquaculture (Feampa) for investments in sustainable fisheries and aquaculture, conservation of marine biodiversity and protection of marine ecosystems in the Adriatic. "The European blue economy creates tangible opportunities for coastal communities and plays a crucial role in decarbonizing our economy. This partnership agreement will help Slovenia to further build low-carbon, resilient, sustainable and innovative fisheries and aquaculture sectors, and will support the ecological and digital transition of the blue economy in Slovenia," comments Virginijus Sinkevičius, Commissioner for Environment, Oceans and Fisheries.

The partnership agreement adopted on Monday, September 12, 2022 with Slovenia is the twentieth after those concluded with Greece, Germany, Austria, Czech Republic, Lithuania, Finland, Denmark, France, Sweden, the Netherlands, Poland, Bulgaria, Cyprus, Portugal, Estonia, Slovakia, Italy, Romania and Croatia.

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