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Brussels frees up 12 billion euros for Italy

Reduces co-finance limits for 2007-2013 funding program

10 March, 16:54
Brussels frees up 12 billion euros for Italy (ANSA) - Brussels, March 10 - The European Union announced Monday that 12 billion euros have been freed up for Italy through renegotiation of a 2007-2013 regional budget program between the EU and Italy. Italy was originally expected to co-finance fully 50% but in a statement, EU Commissioner of Regional Policy Johannes Hahn said it has lowered the rate to 25%.

To date, Italy has used only about 54% of available funds, meaning about 12 billion euros could still be accessed so long as it finances its 25% share of eligible projects.