Brussels, 12 September 2022 (TDI): The European Union (EU) and Slovenia adopted a Partnership Agreement today. According to the agreement, the EU will make a €3.26 billion investment in Slovenia.

The investments will be provided between 2021-2027 for Slovenia’s economic competitiveness, digital transition, and climate goals through EU Cohesion Policy.

EU funds will address the regional disparities in Slovenia. These funds will boost competitiveness and innovation, enable the economy’s digital transformation, promote employment, and help the country to reach its climate and biodiversity goals.

Support for green economy

The EU will invest €806 million in Slovenia under the European Regional and Development Fund (ERDF) the Cohesion Fund. The investment is for a greener and net zero carbon and resilient economy. The funds will contribute to the decarbonization of Slovenia.

Moreover, these investments will also promote the development of renewable energies. The EU will provide €249 million from the Just Transition Fund (JTF) that will promote energy transition by helping the Savinjsko-Šaleška region, of the country, shift away from coal by 2033.

Reduce regional disparities

EU will provide €727 million under the ERDF. These funds will use in research and innovation for the business sector. Moreover, these funds will also create advantageous conditions for businesses and encourage the digital transformation of the economy.

Furthermore, over €511 million under the ERDF and the Cohesion Fund will support sustainable and clever mobility. These funds will address the shortcomings of public transport by modernizing the Slovenian rail network.

Social inclusion, education, employment, and training

Further, €769 million will be provided by the European Social Fund Plus (ESF+). Likewise, ERDF will help to tackle the issues of unemployment and increasing population by investing in upskilling and improving the working environment and conditions for workers.

Slovenia will use ESF+ funding to invest in its long-term care system. Moreover, these funds will be invested in healthcare and mental health services because both are significant for the welfare of society.

Additionally, ESF+ funds will also help reduce social segregation and the risk of poverty for exposed groups. €29.4 million will be used to buy food packages for deprived people at risk of poverty.

Sustainable aquaculture and fisheries

Slovenia will get €23.9 million from the European Maritime, Fisheries and Aquaculture Fund (EMFAF). These investments will promote sustainable fisheries and aquaculture, the protection of marine biodiversity, and marine ecosystems in the Adriatic Sea.

Moreover, these will also support the development of Fisheries Local Action Groups in Slovenia. The funds will contribute to productive and vital local fisheries and aquaculture communities in the country.

Commissioner for Cohesion and Reforms, Elisa Ferreira, said: “With these Cohesion Policy investments, Slovenia can continue its sustainable economic development and overcome challenges in innovation and competitiveness.

I am glad that a significant part of the funds will be invested in the development of the digital economy and in fighting climate change, thus improving living standards and leaving no one behind.”

Also Read: EU assists Sweden in climate transition

EU Cohesion Policy

Under Cohesion Policy, and in cooperation with the Commission, each member state prepares a Partnership Agreement. According to that agreement, funding or investments are provided to the country.

The partnership agreements present a list of national and regional programs to the countries and implement investments on the ground. Moreover, the investments also include the indicative annual financial allocation for each program.