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Financial Framework – European Funds for Cohesion Policy
Τhe allocation of Community resources for Cohesion Policy of period 2007-2013, was decided at the session of the European Council held in December 2005. Greece is allocated EUR 20.4 billion (in current values). These resources will be used to finance interventions through the European Regional Development Fund (ERDF), the European Social Fund (ESF) and the Cohesion Fund.
Comparing to programming period 2000–2006, where the sum of all Greek Regions were eligible areas classified under Objective 1, in the new 2007-2013 programming period, five Greek Regions which exceed the pre-determined development levels, have been included under a transitional support scheme.
The total amount of funding, as well as its annual allocation, are separately designated for each type of Region. Thus, a total amount of EUR 9.4 billion is allocated to the 8 Regions classified under Objective Convergence. EUR 6.5 billion is allocated to the 3 Statistical phasing out Regions (Attica, Central and Western Macedonia). In The 2 Phasing In Regions (Mainland Greece, Southern Aegean) are allocated EUR 0.63 billion. Additionally, for the Programmes falling under Objective 3, there are Community funds available in the amount of EUR 0.21 billion. ,As laid down in the Greek National Strategic Reference Framework, from the total amount of the aforementioned amounts (namely EUR 16.7 billion,) EUR 12.36 billion is channelled to the new Operational Programmes through the European Regional Development Fund (ERDF) and the remaining EUR 4.36 billion will be channelled thereto through the European Social Fund (ESF).
Additionally, Community funds of EUR 3.7 billion are earmarked for Greece through the Cohesion Fund.
Finally, EUR 3.9 billion, are invested to Greek regions, through the Programmes of the Ministry of Rural Development and Food. These resources are part of the European Agricultural Fund for Rural Development (EAFRD and the European Fisheries Fund (EFF).
Last modification date: 07/12/2009