New Interreg budget set to be 8 billion euros
EU agrees to allocate Interreg 8 billion euros in the new programming period.
On Wednesday, EU institutions reached a provisional agreement on Interreg and the financing of cooperation projects for 2021-2027.
The total resources available for cooperation projects for the period 2021-2027, through the EU’s Interreg instrument, are set at 8 billion EUR.
Parliament and Council are now expected to endorse the content of the agreement.
In the new period more resources will be allocated to climate and social issues. Increased support for small projects and people-to-people actions are also envisaged.
Interreg will support the following types of actions (referred to as “strands”):
- cross-border cooperation between adjacent regions to promote integrated and harmonious regional development between neighbouring land and maritime border regions (Interreg A; 72,2% of total resources);
- transnational cooperation over larger transnational territories or around sea-basins (Interreg B; 18,2%);
- interregional cooperation to reinforce the effectiveness of cohesion policy (Interreg C; 6,1%);
- outermost regions’ cooperation to facilitate their integration and harmonious development in their region (Interreg D; 3,5%).
The co-financing rate at each Interreg programme level is set at a maximum of 80% of the funds to be provided by the EU, with up to 85% for outermost regions.
Other key measures agreed
- More resources are expected to be spent on climate action and social programmes, including public health;
- Increased support for small projects and people-to-people projects: up to 20% within an Interreg programme may be allocated to small project funds;
- Pre-financing levels (funds made available to member states following the approval of the Interreg programmes) are set at 1% for the years 2021 and 2022, and at 3% for the years 2023 to 2026, resulting in more liquidity for programmes.
The regulation lays down the specific provisions for the European territorial cooperation goal (Interreg) supported by the European Regional Development Fund (ERDF), the European Social Fund (ESF+) and the Cohesion Fund for the 2021-2027 programming period.
Under the future Common Provisions Regulation, five policy objectives are identified: (1) a more competitive and smarter Europe; (2) a greener, low-carbon transitioning towards a net zero carbon economy and resilient Europe; (3) a more connected Europe; (4) a more social and inclusive Europe; (5) a Europe closer to its citizens.