This is how Malta will spend its €2.2 billion EU budget

The roadmap for how €2.2 billion in European funds will be spent by the Maltese government was launched on Monday during a ceremony at the MFCC in Ta’ Qali.

Parliamentary Secretary for European Funds Chris Bonett unveiled the package, which covers the European Union operational programmes and plans allocated for Malta from 2021 till 2027.

The €2.2 billion in funds had been secured back in 2020.

The government is set to spend €128 million through the Home Funds package, and another €167 million will be spent through the CAP Strategic Plan.

Funds from the European Maritime, Fisheries and Aquaculture Fund will be worth over €31 million and will provide a financial injection to Malta’s maritime sectors.

Almost half of the funds will stem through the Cohesion funds. Malta will receive €760 million from the European Regional Development Fund, part of which will be spent on Project Green and on a second interconnector between Malta and Italy. Another €33 million will be received through the cohesion fund – this will help finance the shore-to-shop project among other things.

The European Social Fund+ will grant Malta €205 million and will help finance schemes like the child and youth guarantee, NGO projects, training schemes, and various scholarships.

Bonett said that a simplication process for paying out EU funds has been in development over recent months. This process included the removal of outdated processes to reduce unneeded bureaucracy and making sure that the various divisions and entities working on EU funds communicate better between them and with the beneficiaries.

A new website, fondi.eu, will help people identify the funds they can benefit from. Meanwhile, Servizzi Ewropej f’Malta will serve as a one-stop-shop for European funds to help potential beneficiaries with the application process and any other information.

In his speech, the Prime Minister emphasised that this is the largest allocation of EU funds Malta has ever received, and that it will make a tangible difference over the next decade by enhancing investment in the Maltese people.

He highlighted the challenges Malta faced in obtaining more EU funds in light of the country's economic success in recent years and outlined the areas that the funds will be used for, including the digital and environmental sectors, Gozo, public and mental health, education, tourism, and agriculture and fisheries.

Minister for the Economy, European Funds and Lands Silvio Schembri stated that the package of EU funds is crucial for building a strong economy for the future, and will be used to support small and medium enterprises, ensure sustainability, and provide opportunities for every person in Malta.

The European Commissioner for Cohesion and Reforms Elisa Ferreira praised the new generation of cohesion investments, which she said were a strong signal of the EU's support and solidarity for Malta.

She emphasised that the funding will help Malta and the Maltese people build a modern, green, energy efficient, innovative, and competitive economy that leaves no person behind.