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EU Solidarity Fund Plans 3.7 Million Euro Greek Aid

The EU Solidarity Fund is set to offer Greece 3.7 million euros in aid, positioned for the nation's natural disasters.

EU Commissioner for Regional Policy Johannes Hahn just announced the aid package that encompasses Sardinia, Italy, Kefalonia, Greece, Slovenia and Croatia, due to earthquakes, floods and storms, that hit the region this year and last. The financial package is awaiting European Parliament and Council authorization, before it can be distributed.

Hahn stated of the assistance, "This decision reflects the very nature of this Fund, which is solidarity with our fellow Member States and neighbours in their time of need after natural disasters. The European Solidarity Fund helps these countries get back on their feet and regain stability which is threatened by the severe damage to economic sectors such as tourism, or destruction of essential infrastructure. The amount of funding proposed will enable Italy, Greece, Slovenia and Croatia to recover from their respective disasters and reimburse rescue costs in the affected regions".

The EU Commissioner further commented, "These amounts are specific and targeted to help address the immediate and direct impact of natural disasters. In addition, the overall development of these regions is supported through the European Structural and Investment Funds. Concentrating resources in business support, research and innovation, ICT and the low carbon economy they can help these regions turn their disaster into an opportunity for developing a sustainable economic model based on their local strengths and characteristics".