The European Commission has adopted a legislative package for cohesion policy for the period from 2014 until 2020.

EU cohesion policy has been a force for change over the last ten years, making a contribution to convergence and growth in the EU and directly creating over one million jobs, investing in training to improve the employability of over ten million people, co‑financing the construction of over 2 000km of motorway and 4 000km of railway and setting up at least 800.000 Small and Medium-Sized Enterprises (SMEs).



To continue this work in the future and strengthen the focus on European economic priorities the European Commission has yesterday adopted a legislative package for cohesion policy for the period from 2014 until 2020. It is designed to boost growth and jobs across Europe by targeting EU investment on Europe's Growth and Jobs Agenda.

Fewer investment priorities

The focus on fewer investment priorities in line with these objectives will be at the heart of the new Partnership Contracts, which Member States will agree with the European Commission. They will set clear targets and set aside a financial performance reserve to reward regions who do best in reaching their goals.

To ensure that the impact on growth and jobs of EU investments is not undermined by unsound macro-economic policies or by weak administrative capacity Commission can ask to review programmes or suspend the funding if remedial action is not taken.

Integrated approach

The impact of the funds will also be strengthened by simplifying and harmonizing the rules of different funds, including rural development and maritime and fisheries. One set of rules for five different funds. And a more integrated approach will make sure the various funds serve coherent goals and strengthen each other's impact.

Johannes Hahn, Commissioner for Regional Policy commented: "Our proposals will make EU funds work even harder. By targeting investments on the keys to growth -– SMEs, innovation, energy efficiency - we will achieve a greater impact. And we are modernising the policy with conditions to ensure performance and results, incentives for those who deliver most effectively, and simplified procedures."