Under the EU budget 2021-2027 for Regional Development and Cohesion Policy, the Commission proposes to modernise Cohesion Policy, the EU’s main investment policy and one of its most concrete expressions of solidarity. Resources will continue to be geared towards regions that need to catch up with the rest of the EU. Member States will invest 65% to 85% of their allocations under the two funds to these priorities, depending on their relative wealth.
“We propose a Cohesion Policy for all regions, which leaves no one behind. We have made it more flexible, to adapt to new priorities and better protect our citizens. We also made the rules simpler and this will benefit all, from small businesses and entrepreneurs to schools and hospitals that will get easier access to the funds,” Commissioner for Regional policy Corina Cretu said.
For a modernised Cohesion Policy, the Commission has proposed four pillars. Under a modernised Cohesion Policy concept, it is proposed a focus on key investment priorities, where the bulk of European Regional Development Fund and Cohesion Fund investments will go towards innovation, support to small businesses, digital technologies and industrial modernisation. It will also go to the shift towards a low-carbon, circular economy and the fight against climate change, delivering on the Paris Agreement.
A more tailored approach to regional development is also proposed, focusing on investing in all regions as many of them across Europe struggle to achieve industrial transition as well as fight unemployment. The 2021-2027 Cohesion Policy will support locally-led development strategies, as local, urban and territorial authorities will be more involved in the management of EU funds.
Under a “fewer, clearer, shorter rules and a more flexible framework” pillar, the Commission is proposing to simplify the access to funds as well as a single rulebook.
Also, the Commission proposes to strengthen the link between Cohesion Policy and the European Semester, to create a growth- and business-friendly environment in Europe, so that both EU and national investments can deliver their full potential.
The Commission’s proposal for a multi-annual financial framework sets out an amount of EUR 330 billion for economic, social and territorial cohesion for the period 2021-2027.
The ERDF has a total value of EUR 200.6 billion and the Cohesion Fund, EUR 41.3 billion, of which the contribution to CEF Transport is EUR 10 billion.
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