European Regional Development Fund
Regional Policy is the EU’s main investment policy
Regional 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. In order to reach these goals and address the diverse development needs in all EU regions, € 351.8 billion – almost a third of the total EU budget – has been set aside for Cohesion Policy for 2014-2020.
Regional Policy is delivered through three main funds: the European Regional Development Fund (ERDF) and the Cohesion Fund (CF) and the European Social Fund (ESF).
Regional Policy and the Commission's political priorities
Regional Policy has a strong impact in many fields. Its investments help to deliver many EU policy objectives and complements EU policies such as those dealing with education, employment, energy, the environment, the single market, research and innovation. The European Structural and Investment Funds are directly contributing to the Investment Plan and the Commission's priorities. Regional Policy provides the necessary investment framework to meet the goals of the Europe 2020 Strategy for smart, sustainable and inclusive growth in the European Union.
The five targets for the EU in 2020 are
1. Employment: 75%of the 20-64 year-olds to be employed
2. Research & Development: 3% of the EU's GDP to be invested in R&D
3. Climate change and energy sustainability:
5. Fighting poverty and social exclusion: At least 20 million fewer people in or at risk of poverty and social exclusion
Each Member State has adopted its own national targets in these areas.
To be continued.