Provides funding to reduce regional disparities and improve living standards.
Approximately €226 billion allocated for the 2021-2027 period for ERDF projects.
The European Regional Development Fund (ERDF) is a key financial instrument of the European Union's cohesion policy, aiming to reduce disparities between regions and improve living standards in less-favored areas. The ERDF focuses on strengthening economic and social cohesion by investing in infrastructure, services, and innovation in underdeveloped regions. **Focus Areas:** - **Innovation and Research:** Supporting research, technological development, and innovation. - **Digital Agenda:** Enhancing digital capabilities. - **SME Support:** Encouraging small and medium-sized enterprises. - **Low-Carbon Economy:** Promoting energy efficiency and renewable energy. **Financial Resources:** - The ERDF has been allocated approximately €226 billion for the 2021-2027 period, with €9 billion dedicated to European territorial cooperation and €1.9 billion for outermost and sparsely populated regions. **Project Financing:** - Co-financing rates vary by region type: up to 85% for less-developed regions, 60% for transition regions, and 50% for more-developed regions. **Criteria for Funding:** - Projects must align with ERDF objectives and comply with EU competition law and state aid rules. **Recent Projects:** - The Mayor of London's Energy Efficiency Fund (MEEF) received £51.2m ERDF funding, leveraging additional £456m from private investors. - The European Urban Initiative and Urban Innovative Actions (UIA) support sustainable urban development and circular economy projects. The ERDF supports a wide range of projects across Europe, focusing on regional development, innovation, and environmental sustainability.