The European Commission approved in 3 of June of 2015 the new Cooperation Program INTERREG V Spain-Portugal MAC (Madeira-Azores-Canary Islands) 2014-2020, with an overall budget of 130 Billion Euros (85% financed by the European Regional Development Fund (ERDF). On 17th of October of 2017, the EC approved an increase of the funding of the Program, which now has a total budget of about 149 million euros (ERDF EUR 126.5 million).
The 2014-2020 Programme focuses on 5 main domains or thematic objectives:
Axis 1: Strengthening research, technological development, and innovation;
Axis 2: Improving the competitiveness of SMEs.
Axis 3: Promote adaptation to climate change and risk prevention and management.
Axis 4: Maintain and protect the environment and promote resource efficiency.
Axis 5: Strengthen institutional capacity and efficiency in the Public Administration.