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EC oks redirection of 361 mln euro in Cohesion funds to Croatia s SMEs

EC oks redirection of 361 mln euro in Cohesion funds to Croatia s SMEs Photo: Vjeran Zganec-Rogulja/PIXSELL ZAGREB (Croatia), December 22 (SeeNews) - The European Commission said it approved the redirection of 361 million euro ($442 million) from the Cohesion Fund to support coronavirus-hit small and medium-sized enterprises (SMEs) in Croatia. The pandemic and its economic and social effects are still very present. I commend Croatia’s decision to use the flexibility provided under the Coronavirus Response Investment Initiative [CRII] to reinforce the measures mitigating the impact of the crisis, European commissioner for cohesion and reforms, Elisa Ferreira, said in a statement on Monday.

€361m from EU cohesion policy to support Croatia s economy

ZAGREB, Dec 22 (Hina) – The European Commission on Monday approved the modification of the Competitiveness and Cohesion Operational Programme to redirect €361 million from the Cohesion Fund to support Croatian small and medium sized enterprises struggling with the effects of the crisis caused by the coronavirus pandemic. The funding will top up the liquidity provided by a dedicated financial instrument under extremely favourable conditions, the Commission said. “I commend Croatia’s decision to use the flexibility provided under the Coronavirus Response Investment Initiative to reinforce the measures mitigating the impact of the crisis. This is yet another example of how EU Cohesion policy is there to lend a helping hand and to leave no one behind,” Commissioner for Cohesion and Reforms Elisa Ferreira said.

EC oks redirection of 361 mln euro in Cohesion funds to Croatia s SMEs

EC oks redirection of 361 mln euro in Cohesion funds to Croatia s SMEs Photo: Vjeran Zganec-Rogulja/PIXSELL ZAGREB (Croatia), December 22 (SeeNews) - The European Commission said it approved the redirection of 361 million euro ($442 million) from the Cohesion Fund to support coronavirus-hit small and medium-sized enterprises (SMEs) in Croatia. The pandemic and its economic and social effects are still very present. I commend Croatia’s decision to use the flexibility provided under the Coronavirus Response Investment Initiative [CRII] to reinforce the measures mitigating the impact of the crisis, European commissioner for cohesion and reforms, Elisa Ferreira, said in a statement on Monday.

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