European Commission approves EUR 90 million of aid for the Balearic Islands

The European Commission has given agreement in principle to a draft single programming document (SPD) for the Spanish Balearic Islands region for 2000-06. The SPD comes under Objective 2 of the Structural Funds (regions undergoing economic and social restructuring). It covers an area with a population of 369 000 and will provide the region with Community assistance worth EUR 90 million. In total, the Community funding will help to mobilise almost EUR 550 million, including EUR 96 million from the Spanish public authorities and EUR 350 million from the private sector. This new SPD should see the creation of some 5 000 new jobs and help to safeguard around 23 000 existing ones.

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INFOREGIO, created at the initiative of the European Commission and provides specific information on the activities of the European Regional Development Fund (ERDF), the Cohesion Fund and the Instrument for Structural Policies for Pre-Accession (ISPA).

Date of publication: 17/03/2001

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