Brussels: The European Commission (EU) on Friday approved an investment package worth 264.8 million euros ($282.5 million) to support 96 new projects spanning to 21 member states.

According to reports, these new projects, selected from more than 1,000 applications, are funded under the LIFE program for the environment.

The European Commission will co-finance the projects by providing 160.6 million euros.

"Money invested in environmental projects is money well spent. I am delighted to see that our LIFE program will support many innovative projects, and I am sure they will make a vital contribution," said Karmenu Vella, EU Commissioner for Environment, Maritime Affairs and Fisheries.

Among member states, Spain has had the largest number of environmental projects at 28, followed by Italy at 21.

The LIFE program is the EU's funding instrument for the environment and climate action. It has been running since 1992 and has co-financed more than 4,000 projects across the EU and in third countries, mobilizing 7.8 billion euros and contributing 3.4 billion euros

(Inputs from IANS)