Overview of the use of EU funds in Brandenburg
For the period 2014-20, cohesion policy is financed by the European Structural and Investment Funds (ESIF). The ESIF includes five different funds, which are all covered by the so-called ‘Common Provisions Regulation’.
The Structural Funds have two components: the European Regional Development Fund (ERDF), providing financial support since 1975 for the development and structural adjustment of regional economies, economic change, enhanced competitiveness as well as territorial cooperation throughout the EU; and the European Social Fund (ESF), set up in 1958 and seeking to contribute to the adaptability of workers and enterprises, access to employment and participation in the labour market, social inclusion of disadvantaged people, combating all forms of discrimination, and creating partnerships to manage reforms in employment.
The other three funds constituting the ESIF are the Cohesion Fund, which supports exclusively less-developed Member States; the European Agricultural Fund for Rural Development; and the European Maritime and Fisheries Fund.
Overview of the five funds:
European Regional Development Fund is a fund allocated by the European Union. Its purpose is to transfer money from richer regions (not countries), and invest it in the infrastructure and services of underdeveloped regions.
The European Social Fund is Europe’s main instrument for supporting jobs, helping people to get better jobs and ensuring fairer job opportunities for all EU citizens. It works by investing in Europe’s human capital – its workers, its young people and all those seeking a job.
The Cohesion Fund contributes to interventions in the field of the environment and trans-European transport networks and is aimed at Member States whose Gross National Income (GNI) per inhabitant is less than 90 % of the EU average. It aims to reduce economic and social disparities and to promote sustainable development.
The European Agricultural Fund for Rural Development which is the funding instrument of the second Pillar of the Common Agricultural Policy of the European Union and one of the European Structural and Investment Funds, aims at strengthening the EU’s agriculture, forestry sector and rural areas in general.
The European Maritime and Fisheries Fund is specifically tailored to Europe’s seas and coasts. Its EUR 6.4 billion budget is focused not only on underpinning the new Common Fisheries Policy and making fisheries and aquaculture more sustainable and profitable, but also on diversifying local economies for the sustainable development of maritime regions and inland fisheries and aquaculture areas.