EU launches grant competition for economic growth

The European Union launches the Grant Competition for the Eastern Partnership countries with the initiative "Mayors for economic growth – Pilot Projects", Moldpres reports.

The competition purpose is to support local authorities in implementing area economic development plans, thus contributing to the sustainable development of cities and local economic development in Armenia, Moldova, Georgia, Ukraine, Belarus and Azerbaijan.

The main tasks of the projects are to improve the business environment, facilitate access to financial resources, and economic growth, including through job creation.

The EU budget for this initiative is worth €9.5 million, and the amount of grants offered is from 300 – 600 thousand euros. The EU funds can be covered from 50 per cent to 90 per cent of the project cost.

The projects for funding can be submitted by 31 May.

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