European Regional Development Fund

Essence and aims:
ERDF is primarily investment fund. By decision of European Commission that entered into force on 1 January 2007 was accepted new Regulation № 1080/2006. Three new aims were accepted and the amount of 308 billion euro was designed for funding activities within these three aims. These aims are cohesion, regional competitiveness and employment and European territorial cooperation.

Essence and aims:
The Cohesion Fund is aimed to help Member States whose Gross National Product (GNP) per person is below 90% of the Community average to reduce their economic and social problems , as well as to stabilize their economy. It supports actions in the framework of the “Convergence” is now subject to the same rules of the programming, management and monitoring as the ESF and ERDF.

Essence and aims:
ESF aims to improve employment and job opportunities in the European Union. ESF’s measures are named ,,soft’ ‘, because they are designed primarily for investments in human resources. It is operated within the framework of the “Convergence” and “Regional competitiveness and employment”.

Fund finances national programs of Member States for rural development. This is a fund that subsidizes investments in agriculture, manufacturing, forestry industry. In rural communities fund supports projects to improve infrastructure, to start a small business, rural tourism and other alternative activities.

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