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Regional policy projects in less developed regions are supported by three European funds: the European Regional Development Fund (ERDF), the European Social Fund (ESF) and the Cohesion Fund. The European Investment Bank (EIB) has pledged to increasing its support for certain regions in its Cohesion Orientation for 2021–2027. [ 30 ]
The European Structural and Investment Funds (ESI Funds, ESIFs) are financial tools governed by a common rulebook, set up to implement the regional policy of the European Union, as well as the structural policy pillars of the Common Agricultural Policy and the Common Fisheries Policy. They aim to reduce regional disparities in income, wealth ...
The post-1997 Labour administration reorganised regional policy, with RSA replaced by Selective Finance for Investment in England and Scotland. UK policy has been subject to EU regional policy framework, with its strong injunctions against unfair competition (generally meaning state aid).
The European Grouping of Territorial Cooperation (EGTC) [3] enables public bodies, regional and local authorities, associations and also EU Member States to create a new cooperation entity with a legal personality. The inception of this new instrument for cooperation at Community level in the framework of regional policy was in 2006.
The Directorate-General for Regional and Urban Policy (DG REGIO [1]) is a Directorate-General of the European Commission. The DG Regional and Urban Policy is responsible for European Union measures to assist the economic and social development of the less-favored regions of the European Union under Articles 158 and 160 of the Treaty of Rome .
The primary institutions of the European Union are the European Commission, the Council of the European Union (Council), the European Council and the European Parliament. The ordinary legislative procedure, applies to nearly all EU policy areas. Under the procedure, the Commission presents a proposal to Parliament and the council.
The European Committee of the Regions (CoR) is the European Union's (EU) assembly of local and regional representatives that provides sub-national authorities (i.e. regions, counties, provinces, municipalities and cities) with a direct voice within the EU's institutional framework.
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