September 30 (SeeNews) - Croatia will receive 9 billion euro ($8.8 billion) investments for its cohesive development under its 2021-2027 partnership agreement with the European Commission, commissioner Elisa Ferreira said.
The adopted agreement paves the way for the investment of almost 9 billion euro for cohesion policy in Croatia, which represents around 2,200 euros of European investment per person, Ferreira said during a special meeting of the Croatian cabinet on Thursday, as seen in a video published by public broadcaster HRT.
Ferreira signed the agreement with Croatia'a regional development minister Natasa Tramisak.
Under the agreement, Europe will invest 1.7 billion euro in projects focusing on research and digitalisation of the economy, as Croatia aims to double the share of GDP dedicated to R&D to 2.5% in the 2021-2027 period.
A further 2.5 billion euro of European investment will support the country's green transition towards a net zero economy as the country's objective is to increase the share of renewables in electricity production to 60% from 53% by 2030.
Nearly 1 billion euro from EU Cohesion Policy will support investments in different modes of sustainable transport, including improvements to the national rail infrastructure.
A total of 244 million euro will be invested in the “blue economy” projects: from sustainable fisheries and aquaculture to marine biodiversity. This has the double benefit of protecting the environment and promoting the economy of coastal regions.
Some 2.5 billion euro will be invested in social measures, including social care, active labour market measures and mapping and forecasting skills.
The investment of 9 billion euro represents 17% of Croatia's annual gross domestic product, prime minister Andrej Plenkovic said during a news conference after the meeting.
($=1.018 euro)