The European Regional Development Fund (ERDF) is one of the main financial instruments of European cohesion policy. Its aim is to contribute to reducing disparities between the levels of development of European regions and to improve the standard of living in less favored regions. Particular attention is given to regions suffering from severe and permanent natural or demographic handicaps, such as the northernmost regions, which are sparsely populated, as well as island, cross-border and mountain regions.
The ERDF has two main objectives:
- investment in growth and employment, which is geared towards strengthening the labor market and regional economies;
- European territorial cooperation, aimed at strengthening cross-border, transnational and interregional cooperation within the Union.
The ERDF also supports sustainable urban development. During the period 2014-2020, at least 5 % of the ERDF envelope for each Member State should be allocated to integrated actions for sustainable urban development that address the economic, environmental, climate, demographic and social challenges affecting urban areas.
The details of the allocation and future use of ERDF funds are set out in the
Association Agreements which are strategic documents drawn up by each Member State with the involvement of regional and social partners.
More information about the ERDF Fund: