Cabañal’s sustainable development plan backed by European Investment is to be extended by one more year, giving Valencia more time to regenerate the coastal neighbourhood. Daniel Hazelhoff reports…
The Valencian city council has been granted an extension by The Ministry of Finance and Public Function until 13 December 2023 in order to finish developing all projects involved within the Strategy for Urban Development or EDUSI, in El Cabañal.
“This allows us to continue with the roadmap to regenerate El Cabañal. These are key aids to overcome the situation of degradation and marginality caused by the Partido Popular’s government, ” says the Ayuntamiento’s Councillor for Innovation, Carlos Galiana.
This allows us to continue with the roadmap to regenerate El Cabañal.
Ayuntamiento’s Councillor for Innovation, Carlos Galiana.
EDUSI has been one of the main investment focuses in El Cabañals development, financed in equal parts by European funds from regional development (FEDER) and the Valencian City Council. Previously, the end to the project had been set for 31 December, 2022, however, the Ministry of Finance’s request for an extension to 3December 31st, 2023 has been approved by the Office of European Projects.
“This will now allow an effective execution of an important part of our strategy” says Galiana, furthermore stating that fund management “is in a constant state of evolution, little by little we approve and execute more projects, our rhythm is reasonably adequate.
“We still have a year and a half of legislation to continue financing projects due to these funds,” he adds.
16 million euros
EDUSI is currently using €16m for the execution of 27 projects. Some €13.5m are used in eight current projects, with €761,000 to seven projects already executed, and €400,000 has been earmarked for three additional projects, says the Ayuntamiento.
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