"The project means a lot for Norrbotten, not only for the environment and the climate, it also contributes to employment in Tornedalen and becomes part of the green transition," says county governor Lotta Finstorp in a press release.
Torneälven's watercourse has been heavily affected by the era of floating.
Now, among other things, the habitat for salmon and trout is to be recreated.
EU funding amounts to approximately SEK 214 million, of which SEK 121 million in Sweden.
The work will start in March next year and will last for seven years.
It is said to be the most comprehensive restoration of aquatic environments to date in Europe.
In Sweden, most of the work will take place around Pajala and Övertorneå.