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Malta’s EU funds absorption rate at 78%
Parliamentary secretary for EU Funds notes that Malta has absorbed 48% of its avaialble EU funds for 2007-13 since Labour's accession to government
9 April 2015, 4:02pm
Staff Reporter
Staff Reporter
1 min read
Malta has absorbed 78% of its available EU funds for the 2007-13 period, EU Funds parliamentary secretary Ian Borg said.
Borg noted that Malta had only absorbed 30% of its available funds as of March 2013 meaning that the current administration has absorbed €372 million in the two years since the general election.
“This reached target was a result of greater political responsibility and greater all-round accountability that could make sure that projects are finished on time and payments made accordingly,” Borg told a press conference outside the Mater Dei Oncology Hospital.
He highlighted EU-funded projects such as the Youth Guarantee scheme, the two new halls in Mater Dei Hospital and the Coast Road in St. Paul’s Bay, as having helped push the absorption rate upwards.
He added that the government will spend the remaining €182 million (22%) of its available funds by the end of 2015 on projects such as the Cittadella and Fort St. Angelo restoration works, the Creative Hub project and the Oncology Hospital.
