Malta has become the first EU member State to complete its negotiations with the European Commission over its EUR857 million European Regional Development Fund (ERDF) and Cohesion Fund (CF) Operational programme for 2007–2013.
The development means Malta has successfully pitched its plans for funds derived from the EU budget for Malta and that specific investments have been identified and approved.
Such investments, according to Malta’s funding programme, are expected to go toward bolstering Malta’s employment levels, environmental quality, transport facilities, fostering research and information technologies and developing clean, efficient energy use patterns.
For its money, the European Commission expects that by 2013 some 1,400 new full time jobs would have been created, tourism earnings increased by one per cent, manufacturing export growth would rise by 0.5 per cent and research, development and innovation expenditure would increase from 0.3 to 0.75 per cent of gross domestic product.
In tourism, the stress of funding is expected to be placed on promoting sustainable tourism – including funding for enhancing, promoting and preserving Malta’s natural and cultural heritage, the branding of a specific tourism product and involving NGOs in the management of Malta’s heritage.
A boost to knowledge and innovation is expected to be achieved by funding the establishment of a new information and communication technology department at the university, facilitating credit for small and medium size enterprises and networking the private sector to research centres.
As part of the Trans-European Networks programme, it is expected that the infrastructure of Malta’s ports and roads will be improved, while action on better traffic management systems should also be taken.
Funding has also been allocated to help Malta come in line with air quality standards as required by the large combustion plant directive, while sea water quality is expected to be ameliorated through funding for the construction of a main wastewater treatment plant. Funding has also been granted for the development of renewable energy sources.
Funding for an advanced approach to water reuse and adaptation to climate change has also been granted, as well as the further development of landfills and household separation of waste at source.
Funding priority has also been given to urban regeneration in the harbour areas as well and e-government health services.
The funding falls under the European Regional Development Fund (ERDF) and Cohesion Fund (CF) Operational programme for Malta titled “Investing in Competitiveness for a Better Quality of Life”. The total budget of the programme amounts to approximately EUR857 million in assistance through the ERDF (EUR444 million) and the CF (EUR284) – or a total of EUR728 million, some 87 per cent of the total EU funding invested in Malta under the Cohesion policy for 2007–2013. The third Operational Programme, the European Social Fund titled “Empowering People for more jobs and a better quality of life” was adopted early last month.