Press Release: Commission approves EUR 750 m package of support for UK regions

On 30.11.00, the European Commission approved seven-year regional development draft plans for Scotland and Gibraltar, representing €332.05 million in financial support from the EU. The programmes concern three areas designated for support under 'Objective 2' of the Structural Funds (support for regions undergoing economic restructuring): the South of Scotland, the East of Scotland and Gibraltar. These plans are expected to attract a further €416.52 million in investment, 78% from national public sources and 22% from the private sector, making a total of €748.57 million. These resources are expected to create around 20,000 new jobs and to safeguard some 16,000 more.

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