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EUROPE : Regional Development

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European funding through regional policy

More than a third of the budget of the Union is devoted to regional development, economic and social cohesion.
The new generation of Structural Funds was launched on 1st January 2007 for a period of 6 years. The overall budget is 308 billion euros (2007-2013). The regional policy focusses on 3 Objectives covering different regions in the EU.

Structural funds :

- The European Regional Development Fund (ERDF) which finances infrastructure, jobcreating investment, local development projects and aid for small firms.
- The European Social Fund (ESF) which promotes the return of the unemployed and disadvantaged groups to the workforce, mainly by financing training measures and systems of recruitment assistance.

Three Objectives :

CONVERGENCE : development of the less prosperous regions of Europe
- ex OBJECTIF 1
REGIONAL COMPETITIVENESS AND EMPLOYMENT : support of innovation taking into account local needs, of sustainable development durable, job creation , training …
- ex OBJECTIF 2 et ex OBJECTIF 3
EUROPEAN TERRITORIAL COOPERATION : cross-border,, transnational and interregional cooperation
- ex INTERREG

The origin of the present information is the Cordis website : http://ec.europa.eu/regional_policy

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