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The policy constitutes the main investment policy of the EU, and is due to account for around of third of its budget, or EUR 392 billion over the period of 2021-2027. [1] In its long-term budget, the EU's Cohesion policy gives particular attention to regions where economic development is below the EU average. [2] [3]
The European Council meetings held in Lisbon, 26-27 June 1992, and Edinburgh, 11-12 December 1992, agreed the establishment of the Cohesion Fund. [2] This was formalized in 1993, as part of the Delors II package of the Treaty of Maastricht, with the goal of reinforcing the regional policy of the EU. [3]
The mission of the programme is to support policy development in relation to the aim of territorial cohesion and a harmonious development of the European territory. Firstly it provides comparable information, evidence, analyses and scenarios on territorial dynamics and secondly it reveals territorial capital and potentials for the development ...
The European Commission has adopted a draft legislative package which will frame cohesion policy for 2014–2020. The new proposals are designed to reinforce the strategic dimension of the policy and to ensure that EU investment is targeted on Europe's long-term goals for growth and jobs ("Europe 2020").
For the fifth programming period 2014-2020 Interreg A is exclusively funded through the European Regional Development Fund with EUR 6.6 billion for the fifth programming period, amounting for 1.9% of the total EU cohesion policy budget for 2014–2020.
Interreg IV covered the period 2007–2013. Interreg V (2014–2020) covers all 27 EU member states, the EFTA countries (Norway, Switzerland, Iceland, Liechtenstein), six accession countries and 18 neighbouring countries. It has a budget of EUR 10.1 billion, which represents 2.8% of the total of the European Cohesion Policy budget. [1]
The European Union (EU) is a supranational political and economic union of 27 member states that are located primarily in Europe. [9] [10] [11] The union has a total area of 4,233,255 km 2 (1,634,469 sq mi) and an estimated total population of over 449 million.
The flag of Bulgaria next to the flag of Europe. Since its accession in the European Union in 2007, [1] Bulgaria has been part of the EU's Cohesion Policy.This program introduces financial instruments, also known as the European Structural and Investment Funds, which aim to reduce the gap between different regions of the EU and improve their economic wellbeing.