Malta is set to benefit from a 10-fold increase in funding under a provisional agreement reached on the EU's Social Climate Fund, a vital part of the climate package.

MEP David Casa had been leading negotiations on the fund during the past year.

Under the original proposal, Malta was set to receive €5 million. But the country can now expect to benefit from more than €55 million, including the national co-financing share, the MEP said on Thursday. 

“I believe that there was a strong case to be made and I am very happy to have achieved this result,” Casa said.

The Social Climate Fund will be financed by revenues from the EU’s flagship climate policy, agreed as a package deal that included the fund.

Measures in the fund will be funded in large part by EU funds, with a minority co-financing rate by member states.

The provisional agreement will now need to be confirmed by a vote in the European Parliament.

Casa thanked the government for the coordinated effort that helped secure the deal, and in particular praised the staff of the Permanent Representation to the EU for their professionalism.

“The point of the fund is to bring down energy bills and to move away from fossil fuels. We can achieve both by investing in energy efficiency and renewable energy.

"With the Social Climate Fund, I want to see investments reach citizens with more solar panels, more efficient appliances, better insulation, and greener alternatives to transport," Casa said.