The European Commission (EC) on Friday adopted a "Partnership Agreement" with the Netherlands setting down the strategy for the optimal use of European Structural and Investment Funds, the bloc said in a statement.
The agreement paves the way for European Union (EU) investing 1.4 billion euros in total Cohesion Policy funding over 2014-2020. The Netherlands will also receive 607 million euros for rural development and 102 million euros for fisheries and the maritime sector, the statement said.
The EU investments will help the country tackle unemployment and boost competitiveness and economic growth through support to innovation, training and education, the EC said.
Meanwhile, the EU investments will also help the Netherlands to promote entrepreneurship, fight social exclusion and develop an environmentally friendly and a resource-efficient economy.
The European Structural and Investment Funds (ESIF) consists of five funds, namely the European Regional Development Fund, the European Social Fund, the Cohesion Fund, the European Maritime and Fisheries Fund and the European Agricultural Fund for Rural Development.
According to the statement, all member states of the EU have presented their Partnership Agreements to the EC, and the adoption of these agreements will follow after a process of consultation.