Objective nº 1 of the Structural Funds constitutes the main priority of the European Union policy of cohesion. According to the Treaty, the purpose of the Union's actions is to "promote a harmonious development" and, in particular, to "reduce the differences between the levels of development of the various regions". That is why two-thirds of the Structural Funds' credits (i.e. more than 135,000 million euros) are used in the recovery of the most disadvantaged regions; what are known as "Objective nº 1 regions" with a Gross Domestic Product (GDP) of less than 75% of the Community average.
Spain is the main beneficiary of the resources of Objective nº 1. It will receive 38,096 million euros (28% of the total allocated to this Objective) between 2000 and 2006. Twelve Spanish regions (Andalusia, Asturias, the Canary Islands, Castilla y Leon, Castilla-La Mancha, Ceuta, the Community of Valencia, Extremadura, Galicia, Melilla, Murcia and Cantabria) benefit from these resources.