The money, budgeted under the EU’s cohesion policy, will be spent between now and 2013. It represents a nearly three-fold increase on the last budgeting period, reflecting the growing economic inequality amongst the EU’s 27 nations since allowing 12 new member states to join the bloc since 2004.
Danuta Hübner, European commissioner for regional policy, says the money is meant to solidify Europe’s global leadership in green technologies, and will create a new generation of green collar jobs – similar to those being touted in the US.
Hubner
