The Three Structural & Cohesion Funds
The Structural and Cohesion Funds are divided into three separate funds:
The European Regional Development Fund (ERDF)
The ERDF will support programmes addressing regional development, economic change, enhanced competitiveness and territorial co-operation throughout the EU. Funding priorities include research, innovation, environmental protection and risk prevention, while infrastructure investment retains an important role, especially in the least-developed regions.
The European Social Fund (ESF)
The ESF will focus on four key areas: increasing 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 Cohesion Fund
The Cohesion Fund contributes to interventions in the field of the environment and trans-European transport networks. It applies to Member States with a Gross National Income (GNI) of less than 90% of the Community average, which means it covers the new Member States as well as Greece and Portugal. Spain will be eligible for the Cohesion Fund on a transitional basis.