At the end of October, the ALGARVE 2030 Regional Program reached a commitment rate of 51% of the total available budget, amounting to approximately €780.3 million. 783 projects were approved, corresponding to €692.5 million in eligible investment and €391.4 million in approved EU funds. Of this amount, €121.3 million has already been executed.
To comply with the N+3 execution rule, beneficiaries must submit projects totaling €38 million in European funds allocated to the region within the next 30 days. The program covers ten strategic intervention axes.
The axis with the highest allocation is Sustainability and Biodiversity (2A), with €237.6 million, followed by Innovation and Competitiveness (1A), with €159.7 million, and Qualifications, Employment, and Inclusion (4A), with €119 million. Other axes include Mobility and Decarbonization, Housing, Social and Territorial Cohesion, Water, Technical Assistance, STEP, and Dual-use Defense.
Under Strategic Objective 1 (a more competitive and intelligent Europe), €180.3 million were put out for tender, with €108.6 million approved and €24 million executed. For Strategic Objective 2 (climate transition and environmental sustainability), tenders worth €293.7 million were launched, with €135.2 million approved and €36.9 million executed.
Strategic Objective 4 (a more social and inclusive Europe) has tenders totaling €122.2 million, with €100.6 million approved and €39.8 million executed. Meanwhile, Strategic Objective 5 (integrated territorial development) made €38.3 million available for tender, with €46.6 million approved and €17.8 million executed.
With over 50% commitment achieved, the focus is now on accelerating the execution of approved projects so that the funds translate into investment, employment, and development for the Algarve. The realization of projects is seen as crucial for impacting the economy, businesses, and the quality of life for the population.
