European Structural and Investment Funds
It is up to the European Parliament and the Council of the European Union to define the tasks, priority objectives and the organisation of the Structural Funds (the Regional Policy framework), through the ordinary legislative procedure and consulting the Economic and Social Committee and the Committee of the Regions (leading to the publication of Regulations).
For example, most funds within the 2004–06 Integrated Regional Operational Programme (IROP), and its 2007–13 successor (ROP), are allocated through largely need-based project-selection mechanisms.
The ERDF supports programmes addressing regional development, economic change, enhanced competitiveness and territorial co-operation throughout the EU.
The ESF+ focuses on four key areas: increasing the adaptability of workers and enterprises, enhancing access to employment and participation in the labour market, reinforcing social inclusion by combating discrimination and facilitating access to the labour market for disadvantaged people, and promoting partnership for reform in the fields of employment and inclusion.
The objectives setup shapes the main focus of interventions (eligible activities and costs) and the overall allocations of funds from the EU budget.
This objective covers regions whose GDP per capita is below 75% of the EU average and aims at accelerating their economic development.
The priorities under this objective are human and physical capital, innovation, knowledge society, environment and administrative efficiency.
Regions and cities from different Member States are encouraged to work together, learning from each other and developing joint projects and networks.
The "objectives" were introduced with the Single European Act as a criterion to make the Structural Funds spending more effective as Regional Policy started to be rationalised in a perspective of economic and social cohesion.
The Single European Act, that entered into force in 1987, institutionalised the goal of completing the internal market with a total borders opening, by 31 December 1992.
Regional competition would be tighter and a Cohesion Policy was needed to mitigate the negative side effects of market unification.
The "objectives" were then created to discipline the capture of funds in terms of economic and social cohesion across the Union's territory.
Even though European Territorial Cooperation Objective is the smallest of the three Cohesion Policy objectives (in terms of budget), it gained a critical importance to address the key challenges of the European Union, particularly with some redefinitions of the Treaty of Lisbon ( entered into force on 1 December 2009), and for contributing to achieve the goals of Europe 2020, the EU's growth strategy.
Within European Territorial Cooperation, there are three types of programmes: In particular, cross-border actions are encouraged in the fields of entrepreneurship, improving joint management of natural resources, supporting links between urban and rural areas, improving access to transport and communication networks, developing joint use of infrastructure, administrative cooperation and capacity building, employment, community interaction, culture and social affairs.
It offers access to publications, learning tools, and tailored advisory services related to financial instruments under the EU shared management funds.
These financial instruments, including loans, guarantees, equity, and other risk-sharing mechanisms, support various projects across the European Union.
Through partnership contracts agreed with the commission, member states will commit to focussing on fewer investment priorities in line with these objectives.
The package also harmonises the rules related to different funds, including rural development and maritime and fisheries, to increase the coherence of EU action.
