EU announces 3.7 million euro aid for Cephalonia

A proposal for special European Union funding worth 3.7 million euros for the Ionian island of Cephalonia following a 5.8 Richter scale earthquake and a series of aftershocks in early 2014 was announced on Wednesday.

The aid was part of a nearly 47 million euro package proposed by the EU through its Solidarity Fund, European Union Commissioner for Regional Policy, Johannes Hahn, announced on Wednesday.

Besides Greece, the funds were proposed for Sardinia (Italy) Slovenia and Croatia after a series of natural disasters struck the regions in late 2013 and early 2014.

“These amounts are specific and targeted to help address the immediate and direct impact of natural disasters. In addition, the overall development of these regions is supported through the European Structural and Investment Funds. Concentrating resources in business support, research and innovation, ICT and the low carbon economy they can help these regions turn their disaster into an opportunity for developing a sustainable economic model based on their local strengths and characteristics,” noted Hahn in a statement.

The aid package needs to be approved by the European Parliament and the European Council.