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Malta to get 400 mln euros of EU funds to boost socio-economic development

Xinhua, March 14, 2015 Adjust font size:

Malta's Deputy Prime Minister Louis Grech, also Minister for European Affairs and the Electoral Manifesto, announced on Friday that the island country would get 400 million euros (420 million U.S. dollars) of EU funds over the next seven years.

Louis Grech, along with Ian Borg, the archipelago's Parliamentary Secretary responsible for the EU Presidency 2017 and EU Funds, presided over the official launch of the 2014-2020 Operational Programmes for Malta in Floriana town, on the outskirts of Valletta.

The Deputy Prime Minister said the funds, equivalent to a direct injection of almost 2 percent of GDP per annum, would contribute to the socio-economic development of the country and make a significant contribution to a better quality of life. Endit