Programme on target as Objective One reaches £41.25 million
The amount of European money allocated through Objective One has reached £41.25 million, following the approval yesterday (Thursday 7th) of over £9.6 million in further grants.
The figure means that the programme has now almost allocated its target for 2000 of £45.1 million.
There is also good news for agriculture with the approval of six projects that will be worth a total of over £14 million to the industry.
Objective One’s deputy programme director Carleen Kelemen explained: “The programme could not effectively start until we got the go-ahead from Europe, which did not happen until last July. Because of that, the European Commission gave us until the end of this year to allocate the money for both 2000 and 2001.
“We have the same amount to allocate for each year and the good news is that we have now almost caught up with the budget for 2000 after just six months.
“We still have nine months left of the year to consider applications for 2001. That gives us time to ensure we continue to work towards getting the quality projects that can produce real change and bring about the long-term economic regeneration needed in Cornwall & Scilly.”
The latest funding was approved by the programme’s Working Group, which endorsed 22 project applications – bringing the total number of projects approved so far to 77.
Out of the total of £9.6 million, over £4 million is in grants from the European Agricultural Guidance & Guarantee Fund for six projects, which will be worth a total of over £14 million when combined with the match funding that each project provides.
Another six projects, worth a total of nearly £5.8 million, were approved for over £2.6 million in grants from the European Regional Development Fund. Eight projects, together worth nearly £8.2 million, were approved for nearly £3 million in grants from the European Social Fund and two applications to the Financial Instrument for Fisheries Guidance were approved for £35,000.
So far, details of 27 approved projects have been made public. Information on further projects will be announced as and when the applicants have agreed all legal and financial details. The grants then provide guaranteed funding that will be claimed back by projects once the money has been spent.
For further information about Objective One and the projects funded so far, visit the programme’s website www.objectiveone.com or call the Helpline on 0800 028 0120.
The total European funding allocation of £41.25 million to date includes:
£22.35 million allocated by the end of 2000. (This includes £14.25 million in grants for 36 projects, £6.4 million for the Integrated Area Plans designed to deliver community regeneration and £1.7 million in technical assistance to pay for the management and delivery of the programme.)
£9.3 million approved for 19 projects at the Working Group’s February meeting.
£9.6 million approved for 22 projects at the Working Group’s March meeting.
The Single Programming Document – which forms the contract between the UK Government and the European Commission – gives a total budget of £45.1 million for the year 2000. A further £1.8 million for fisheries will be added to this figure.
Objective One Partnership Office
Truro TR1 2UD