Cohesion policy, also known as Regional Policy, is the main investment policy of the European Union, which contributes to creating new jobs, improving the quality of life of citizens, and increasing the overall economic development of both the Member States and the EU as a whole. It is also an expression of solidarity, given that the support is directed to less developed regions and EU Member States - with the aim of strengthening the Union's economic, social and territorial cohesion.
In December 2013, a legal framework for the Cohesion Policy for the period 2014-2020 was established. For the mentioned period, the Cohesion Policy budget amounts to EUR 351.8 billion and is allocated to 28 Member States in accordance with the defined methodology.
Two main goals of the Cohesion Policy have been identified in the programming period 2014-2020:
- Investments for growth and jobs and
2. European territorial cooperation, implemented through cross-border, transnational and interregional cooperation.
The Cohesion Policy 2014-2020 provides the necessary investment framework and mechanism for achieving the goals of the EU Development Strategy "Europe 2020", through focusing the support on 11 thematic objectives.
The basic instruments through which support is implemented and directed to specific programmes and operations are:
The European Regional Development Fund (ERDF) - provides support to EU Member States and their regions, with the aim to eliminate major regional inequalities and achieve self-sustainable growth. It is primarily aimed at strengthening the competitiveness of the economy - through investments in research, development and innovation, investments in manufacturing and infrastructure, urban and local development, improving the competitiveness of small and medium-sized enterprises, and supporting transition to a low-carbon economy in all sectors.
The European Regional Development Fund (ERDF)
Provides support to EU Member States and their regions, with the aim to eliminate major regional inequalities and achieve self-sustainable growth. It is primarily aimed at strengthening the competitiveness of the economy - through investments in research, development and innovation, investments in manufacturing and infrastructure, urban and local development, improving the competitiveness of small and medium-sized enterprises, and supporting transition to a low-carbon economy in all sectors.
The European Social Fund (ESF)
Provides support to EU Member States and their regions in achieving employment policy goals. It focuses on investments in human resources by supporting the employment of as many people as possible, promoting equal access and equal opportunities for all, fostering entrepreneurship and activating in the labour market, integrating immigrants, ensuring gender equality, combating poverty, strengthening social inclusion, improving education and lifelong learning. Through the Youth Employment Initiative, the ESF supports activities targeting young people under 25 who are not employed, with regard to education or training.
Cohesion Fund (CF)
Supports the least developed EU Member States whose GNI per capita does not exceed 90% of the EU-27 average. Large projects in the field of transport infrastructure and environmental protection are being financed from this fund. In the 2014-2020 programming period, it provides support to the following Member States: Bulgaria, Croatia, Cyprus, Czech Republic, Estonia, Greece, Hungary, Latvia, Lithuania, Malta, Poland, Portugal, Romania, Slovakia and Slovenia.
The Republic of Serbia will be able to use assets from the mentioned funds when it becomes a member of the EU. Negotiations on the accession of the Republic of Serbia to the European Union in the field of cohesion policy, in terms of meeting the requirements and principles, and preparations for its effective implementation, are realised through Chapter 22 - Regional Policy and Coordination of Structural Instruments.
For more information, check the following links:
http://ec.europa.eu/regional_policy/en/policy/what/investment-policy/
http://www.mei.gov.rs/upload/images/publikacije/17/koheziona_politika.pdf
http://www.mei.gov.rs/upload/documents/publikacije/nacela_kohezione_politike_giz2017.PDF