New rules for investing €325 billion in regional development projects across the EU in 2014-2020 were approved by the European Parliament Regional Development Committee on July 10.A new “common strategic framework”, will provide a single source of guidance for all five regional development funds, so as to better integrate EU policies and simplify procedures. The five funds are the European Regional Development Fund (ERDF), the European Social Fund ESF), the Cohesion Fund (CF), the European Agricultural Fund for Rural Development (EAFRD) and the European Maritime and Fisheries Fund (EMFF).

The “European territorial cooperation” scheme becomes a cohesion policy objective

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