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This is one of the three priority objectives of the EU's Cohesion Policy for 2007-13. It closely mirrors former 'Objective 1' funding. The Convergence Objective aims to help the least developed Member States and regions that are lagging behind to close the gap more quickly in relation to the EU average by improving conditions for growth and employment.
The main fields of action are infrastructure (transport, environment, energy), employment (training), innovation (research and development), information and communication technologies and the administrative efficiency of public administrations and public services. Funding is from the European Regional Development Fund (ERDF), the European Social Fund (ESF) and the Cohesion Fund.
During the 2007-13 programming period the following regions will be covered by the Convergence objective: regions with per capita GDP below 75% of the EU average (Structural Funds); regions with per capita GDP which has risen above 75% of the EU average (due to the statistical effect of enlargement); those with a GNI which is less than 90% of the EU average (Cohesion Fund); outermost regions (in order to compensate for excess costs due to their remote location).