EU agrees €3.5 billion subsidy for Estonia's social development
Estonia has been allocated €3.5 billion in EU funding for social development and green transition policies between 2021-2027, the European Commission said on Monday.
In relation to the green transition, a statement said €781 million will be used to support the circular economy; €354 million will be used to transition to a greener and more competitive industry and provide training for workers in the Ida-Viru county; and €521 million will promote the shift from road to rail transport for both passengers and freight to cut carbon emissions.
Another €742 million will be used to will be invested in small and medium businesses to boost productivity, innovation and competitiveness in line with smart specialization.
Additionally, money will be used to speed up the digitalization of the economy, the development of public digital services and high-speed internet.
Funding will be used for lifelong learning, upskilling and social inclusion. A total of €534 million will be allocated to address social, health, lifelong learning and labor market needs.
Other areas which will be addressed include child poverty, early school leaving prevention, long-term supportive care reform, matching education to labour market needs and promoting a healthy work life. Support for food and basic material assistance will be also provided to the most vulnerable groups in society.
€97.4 million will also be used to increase the resilience of the fisheries, aquaculture and processing sectors.
Commissioner for Cohesion and Reforms, Elisa Ferreira, said: "Following today's adoption of the Partnership Agreement, Estonia will be supported to further develop its economy, the green and fair transition, innovation in small and medium businesses and its transport sector. Estonia has a far-reaching smart, green and digital future ahead."
The funding is allocated by the EU's Cohesion Policy from the European Regional Development Fund, Cohesion Fund, Just Transition Fund, European Social Fund Plus and the European Maritime Fisheries and Aquaculture Fund.
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Editor: Helen Wright