Did you Know?

That the EU regional policy, or Cohesion policy, is an investment policy to support job creation, competitiveness, economic growth, improved quality of life and sustainable development. These investments support the delivery of the Europe 2020 strategy.

 

EDC News: Cohesion Policy – Supporting Growth and Jobs

Cohesion policy, also referred to as Regional Policy, is the EU’s main investment policy for projects all over Europe. The meaning and purpose of cohesion was initially outlined in the 1986 Single European Act, where it included both social and economic aspects with the aim to reduce disparities between the various regions. Later, the Lisbon treaty added another facet to cohesion and it is now defined as economic, social and territorial cohesion.

The Cohesion policy targets all regions and cities in the European Union in order to support job creation, business competitiveness, economic growth, sustainable development, and improve citizens’ quality of life.

Cohesion Policy funding for 2014-2020 is concentrated on eleven thematic objectives and is delivered through three main funds.

  • European Regional Development Fund (ERDF): aims to strengthen regional economic and social cohesion by investing in growth- enhancing sectors to improve competitiveness and create jobs. The ERDF also finances cross-border cooperation projects.

  • European Social Fund (ESF): invests in people, with a focus on improving employment and education opportunities. It also aims to help disadvantaged people at risk of poverty or social exclusion.

  • Cohesion Fund: invests in green growth and sustainable development, and improves connectivity in Member States with a GDP below 90 % of the EU-27 average.

Together with the European Agricultural Fund for Rural Development (EAFRD) and the European Maritime and Fisheries Fund (EMFF), they make up the European Structural and Investment (ESI) Funds.

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