Finland: Ministerial Committee on Economic Policy agrees on distribution of funding for Interreg programmes in 2021–2027

NordenBladet — At its meeting on 18 March, the Ministerial Committee on Economic Policy decided on how funding from the European Regional Development Fund (ERDF) should be distributed among Finland’s Interreg programmes during the 2021–2027 programming period. The funding in question concerns seven programmes under the European Territorial Cooperation (ETC) objective, also known as Interreg programmes.

An indicative amount of EUR 162.7 million in ERDF funding has been allocated to Finland for Interreg programmes in the forthcoming programming period. The EU Member States are free to decide how to divide the funds among their various programmes.  The Ministerial Committee agreed that EUR 122.5 million would be allocated to cross-border cooperation programmes and EUR 40.2 million to transnational cooperation programmes.The ERDF funds would be distributed among the programmes in the same proportions as during the current 2014–2020 programming period to the extent possible.EUR 122.5 million to be allocated for cross-border cooperation:Aurora EUR 37.3 millionCentral Baltic EUR 37.2 million Kolarctic EUR 10.0 millionKarelia EUR 14.0 millionSouth-East Finland – Russia EUR 24.0 million
EUR 40.2 million to be allocated for transnational cooperation:
•    Baltic Sea Region EUR 29.3 million
•    Northern Periphery and Arctic EUR 10.9 millionIn addition to the above-mentioned programmes, Finland participates in four EU-wide interregional cooperation programmes: Interreg Europe, Interact, Urbact and Espon. ERDF funding for these is allocated directly from the EU budget by the European Commission.

The state budget will also include approximately EUR 121 million in national co-financing the Interreg programmes.All of the Interreg programmes are currently under preparation. The goal is to launch the first programmes at the end of 2021.

Interreg programmes aim to boost competitiveness and employment, particularly in border regions Interreg programmes are part of the EU’s regional and structural policy, also known as cohesion policy. The programmes aim to support the integration of border regions and wider cross-border cooperation areas and to build and strengthen networks between regions and cities. By increasing cooperation and promoting the exchange of experiences and the dissemination of good practices, the programmes can have a significant impact on competitiveness and economic development, especially in border regions. The programmes also aim to promote well-functioning labour markets in border regions and across borders. A further goal is to strengthen the entire Baltic Sea region as a European and global economic area and to find new solutions and models to address development problems in sparsely populated northern areas.