By the end of February 2018, over 981 million euros had been directed to the Estonian economy from the European structural and investment funds for the period 2014-2020. The government of Estonia has signed a partnership agreement with the European Commission for the 2014-2020 budget period, according to which 4.21 billion euros of the structural and investment funds can be used. In total, 665 million euros or a fifth of 3.3 billion euros has been paid out from the assets of the structural funds.
Along with state co-financing, the volume of the rural life development plan involving the assets of the European Agricultural Fund for Rural Development and the European Maritime and Fisheries Fund for the budget period is 993 million euros, of which 567.6 million euros worth of liabilities had been assumed and 363.7 million euros had been paid out by the end of February.
The conditions of granting support and projects have been drawn up during the first years of the EU budget period. The volume of payments notably grew in Estonia last year. Currently, it’s also possible to apply for the assets from the EU’s central programs and funds outside the structural and investment funds and partnership agreement.
Approximately 2 billion euros of support can come to Estonia from these sources with the budget period. Among the central funds are the Connecting Europe Facility, from which infrastructure projects connecting the whole of Europe, like Rail Baltic and the Balticconnector gas interconnection between Estonia and Finland, are financed.
Structural and investment funds include the European Social Fund, European Regional Development Fund, Cohesion Fund, European Agricultural Fund for Rural Development and European Maritime and Fisheries Fund.
The development of financial cooperation with EU countries can also be traced in Uzbekistan. On March 28, the governments of Germany and Uzbekistan signed an agreement on financial cooperation for 12.3 million euros for the period 2017 – 2018 on the basis of the protocol of intergovernmental negotiations held on 19 July 2017 in Berlin. On behalf of the German government, the agreement “On financial cooperation between the Government of the Federal Republic of Germany and the Government of the Republic of Uzbekistan for the period 2017 – 2018” was signed by Ambassador Extraordinary and Plenipotentiary of Germany to Uzbekistan Mr. Gunter Overfield, on behalf of the Government of Uzbekistan – Deputy Chairman of the Investment Committee of the Republic of Uzbekistan Mr. Shukhrat Vafayev. The agreement is aimed at the implementation of projects in the field of public health: modernization of multidisciplinary medical centers and equipping of a special laboratory within the project on combating tuberculosis in the regions of the Republic of Uzbekistan, as well as granting the necessary accompanying activities for the implementation and maintenance of the project.
European structural and investment funds support the Estonian economy
