Greece: Absorption of Structural Funds

(GREEK NEWS AGENDA)  Greece’s absorption of structural funds from 3rd Community Support Framework (CSF) in 2000-2006 stands at 91%, European Commissioner for regional policy Danuta Hubner announced on Wednesday.  The Commissioner clarified that Greece applied for payments reaching €20.9 billion of the €23 billion available. Presenting absorption figures for the 3rd CSF for all member-states, Hubner said that the Community average also stood at 91%. She expressed hope that the total available funds will have been absorbed by June 30, when the deadline for completing projects using Community funding expires. Greece’s absorption of money available in the structural funds and the EU Cohesion Fund comes to 88%, marginally above the EU average of 87%. Absorption of money exclusively derived from the Cohesion Fund by Greece is 61%, four percentage points below the EU average of 65%.  Ministry of Economy and Finance: Management Organisation Unit of CSF; Secretariat General of Information: About Brand Greece, CSF (2000-2006)