European Union Adopts 50 New Programmes to Support Economic Development and Social Cohesion

Strategic Insights -

The European Union has recently adopted 50 new programmes under the European Cohesion Policy, worth more than 66 billion euro, to support economic development and social cohesion across the European Union. These programmes form part of the 2014-2020 budgetary period and will bring the total number of approved programmes to 266, worth more than 256 billion euro. The Cohesion Policy aims to promote economic competitiveness, enhance research and innovation, and support the shift towards a low-carbon economy in Europe. The programmes will also tackle unemployment, fight social exclusion, and promote entrepreneurship.

Key Takeaways:

  • The European Commission has adopted 40 new programmes under the European Cohesion Policy, with an additional 10 programmes to be adopted before the end of the month.
  • The 50 programmes are worth more than 66 billion euro and form part of the 2014-2020 budgetary period.
  • The Cohesion Policy aims to promote economic competitiveness, enhance research and innovation, and support the shift towards a low-carbon economy in Europe.
  • The programmes will also tackle unemployment, fight social exclusion, and promote entrepreneurship.
  • The European Social Fund will contribute to creating better job opportunities for people in different parts of the EU, particularly for young people.
  • The funding will also make an important contribution to the promotion of structural reforms to enhance the competitiveness of the European labour market.
  • The operational programmes stem from the Partnership Agreements signed between the European Commission and each Member State for a period of seven years.
  • The programmes have clear objectives, which correspond to the development needs and challenges identified locally.
  • The recent adoptions and the remaining 10 to be done by the end of this month will bring the total number of approved programmes to 266 for 20 Member States (all, except the United Kingdom, Romania, Bulgaria, Czech Republic, Hungary, Spain, Italy, and Sweden).
  • The European Social Fund supports more than 15 million people every year by helping them to improve their skills, facilitating their integration into the labour market, combating social exclusion and poverty, and increasing the effectiveness of public administrations.
  • Commissioner for Regional Policy Corina Cretu commented on the adoptions, stating that the programmes focus on key measures to bring back trust and growth in Europe's cities and regions.

Statistics:

  • The 50 programmes adopted by the European Commission are worth more than 66 billion euro.
  • The total number of approved programmes for the 2014-2020 budgetary period is 266.
  • The programmes are part of the European Cohesion Policy, which has a budget of 351.8 billion euro for a total of 387 programmes.
  • The European Social Fund supports more than 15 million people every year.
  • The Cohesion Policy aims to promote economic competitiveness, enhance research and innovation, and support the shift towards a low-carbon economy in Europe.

Sources:

  • European Commission press release
  • Commissioner for Regional Policy Corina Cretu's statement
  • Commissioner for Employment, Social Affairs, Skills and Labour Mobility Marianne Thyssen's statement
  • European Cohesion Policy website
  • European Social Fund website
  • Partnership Agreements signed between the European Commission and each Member State