Central government has given the green-light to a whopping cash boost for the Algarve to be put towards development in the years 2014-2020.
The boost increases the region’s access to community funds by an impressive 84%.
David Santos, president of the CCDR (the local commission for coordination and development), said the news “went against all forecasts”.
“This is clearly the recognition of the region’s work throughout the past months, which was only possible because the Algarve was able to reach consensus and establish partnerships which allowed it to speak as one entity in the process,” he said in a press release.
The ‘one entity’ is made up of the region’s 16 municipalities, the University of the Algarve and the Algarve’s seven major business associations, all acting within a protocol established with the CCDR.
Now debates will ensue between them to discuss how the funds should be best used in sectors including rural and fishing development and youth unemployment.
According to the CCDR release, the €323 million cash injection includes €238 million from the European Regional Development Fund and €85 million from the European Social Fund.
The commission accepts that more funding means more responsibility in terms of developing management and partnership systems “in order to establish adequate priorities for the region to overcome its difficulties”.
It also revealed that the next six years would focus on “significantly” strengthening support for companies and transferring knowledge among different sectors and markets.
Investing in efficient natural resources, in the qualification of human resources, in reducing poverty and strengthening social inclusion are “decisive factors” for the future of the Algarve, which the CCDR hopes to make more “competitive, sustainable and inclusive”, adds the release.
Also among the CCDR goals are:
• the creation of more and higher quality employment opportunities;
• the reduction of inequality;
• the expansion of the region’s economy “by developing natural resources such as the land and the sea, alongside the region’s tourist activity”.
