EU and Finland adopt €2 billion Partnership Agreement
The Commission adopted its Partnership Agreement with Finland, laying down Finland's €2 billion cohesion policy investment strategy for the period 2021-2027. The funds will support Finland in promoting economic, social and territorial cohesion, with a focus on key EU priorities such as the green and digital transition. The funds will also contribute to the country's competitive, innovative and sustainable growth.
About €523 million will improve research and development (R&D) and innovation. Investments will also foster digitalisation, accelerate small and medium-sized businesses' growth and increase productivity.
The country has planned for 40% of its investments to support the green transition. The funds will be used to improve energy efficiency, climate change adaptation and resource efficiency. Moreover, measures to address and mitigate the negative social, economic and environmental impacts of the halving of peat production in Finland will be introduced.
The European Social Fund Plus (ESF+) in Finland will promote social cohesion, with about €580 million allocated to this goal. The ESF+ will help people in Finland to invest in their skills and lifelong learning, the adaptability of the workforce and the employability of those facing difficulties to enter the labour market.
The European Maritime, Fisheries and Aquaculture Fund (EMFAF) will focus on resilient fisheries and aquaculture sector, with strong support for innovation and investment and adaptation to climate change.
The greatest share of the Finland Partnership Agreement will improve innovation and skills, with a dedicated programme worth €1.4 billion. It will support different priorities, ranging from R&D and innovation to greening the economy, enhancing sustainable mobility in the northern sparsely populated region, combating material deprivation, and improving the employment of young people.
Image © European Commission
07 November 2023