EU funding: Austria's regions benefit from EUR 3.12 billion!

EU funding: Austria's regions benefit from EUR 3.12 billion!

Laimgrubengasse 10, 1060 Wien, Österreich - In Austria, EU regional funding unfolds an impressive lever! Since 2014, an incredible 644 million euros from the European Fund for Regional Development (ERDR) have been invested in a total of 1,709 projects. These funds have led to a booming investment volume of a whopping 3.12 billion euros. This factor value of almost five to one shows how effective European funds work in the domestic economy - a clear triumph for regional development policy, reports APA-OTS . The balance sheet for the program period 2014-2020 is impressive: the investment amount exceeds the original plans by 20 % and confirms that Austria has fully exploited the promised EFRE funds.

But it goes on! As part of the new funding program for 2021-2027, Austria is available a total of 597 million euros. In addition to ERDRE agents, the newly created fund also comes into play for a fair transition (Just Transition Fund, JTF). This initiative is intended to support regions that face challenges in the transition to a climate -neutral economy. Accompanying this, the federal and state governments have provided an additional 275 million euros, which is intended to initiate private investments of over 930 million euros. The funds add up to an impressive total volume of almost 1.8 billion euros, so Wikipedia .

EU funding policy has a profound effects on regional development and contributes to improving infrastructure, education and environmental projects. The efficient use of these funding will continue to play a key role in growth and support local projects in Austria. The EU uses various financing instruments that include not only national but also regional authorities. An important aspect is co -financing by public and private means, which further reinforces the effectiveness of the funds used.