EU budget 2014-2020 and cohesion policy
The European Commission presented its proposals for a Multi-annual Financial Framework covering the period 2014-2020 on 29 June 2011.
The Commission proposes to allocate €376 billion for the 2014-2020 period for spending under cohesion policy instruments. This amount comprises:
- €162.6 billion for convergence regions,
- €38.9 billion for transition regions,
- €53.1 billion for competitiveness regions,
- €11.7 billion for territorial cooperation
- €68.7 billion for the Cohesion Fund
It also includes €40 billion for a new Connecting Europe facility designed to boost investment in transport, energy and information communication technologies.
The European Social Fund will represent at least 25% of the cohesion envelope, not taking into account the Connecting Europe facility, i.e. €84 billion.
The other main elements of the proposed Multi-annual Financial Framework in the area of cohesion policy are:
- Reinforced focus on results and effectiveness, with a systematic link between cohesion policy and the Europe 2020 strategy
- New conditionality provisions to ensure that funds are used to meet the Europe 2020 objectives, affecting both the initial allocation of funds and the release of additional funds
- The introduction of a new 'transition region' category including regions with a GDP per capita of 75-90% of the EU-27 average
- Measures to improve the absorption of funds by Member States