Funds Management: Structural Funds

In order to promote a harmonious development of the whole European Union, the communitary institutions, in   colaboration with the member states, are carrying out actions which are to reinforce economic and social cohesion   of the EU. The main objective of the Community is, above all, to reduce differences between development levels of   various regions and underdevelopment of areas less prosperous with rural areas and islands being included.

To achieve the purpose, the Community benefits from the structural and cohesion funds, European Investment   Bank and other financial instruments (European Investment Funds, loans and the Euratom Guarantee Fund).

The European Union has at its disposal four Structural Funds. By means of these funds, the EU channels to the   member states financial subsidy set aside to overcoming structural economic and social obstacles which unable   or delay the process of reduction of inequality between different regions and social groups. The funds above   mentioned are as follows:

        European Regional Development Fund (ERDF)
        European Social Fund (ESF)
        The European Agricultural Guidance and Guarantee Fund (EAGGF)
        The Financial Instrument for Fisheries Guidance (FIFG)

  More information: The General Direction of the Communitary Funds