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, € 355.1 billion – almost a third of the total EU budget – has been set aside for Cohesion Policy for 2014-2020.
Regional Policy is delivered through two main funds: the European Regional Development Fund (ERDF) and the Cohesion Fund (CF).
Together with the European Social Fund (ESF), 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.