How does the ERDF work?
The ERDF finances programmes in shared responsibility between the European Commission and national and regional authorities in Member States. The Member States' administrations choose which projects to finance and take responsibility for day-to-day management.
The European Regional Development Fund (ERDF) is one of the European Structural and Investment Funds allocated by the European Union. Its purpose is to transfer money from richer regions (not countries), and invest it in the infrastructure and services of underdeveloped regions.
The Cohesion Fund provides support to Member States with a gross national income (GNI) per capita below 90% EU-27 average to strengthen the economic, social and territorial cohesion of the EU.
To be eligible for EU funding, your organisation usually needed to have: partners from at least 3 member states. match funding - this meant you needed to provide a certain amount of financing yourself to match the contribution from the EU (the rate varied according to the programme but was typically around 50%)
Apply for funding
To access EU grants, you should apply via the relevant regional or national authorities (known as managing authorities) in the member state where you are registered. The Ministry of Agriculture in your country is responsible for funding for the European Agricultural Fund for Rural Development.
Non state aid - EU funded programmes
N.B. European funds which are controlled by the UK government such as the ERDF (European Regional Development Fund) are classified as state aid.
The UKSPF is a successor to some EU Structural Funds. Specifically, the European Regional Development (ERDF) and European Social Fund (ESF). Other European Funds, such as the European Agricultural Fund for Rural Development (EAFRD), are being replaced separately.
Cohesion policy is the European Union's strategy to promote and support the 'overall harmonious development' of its Member States and regions. Enshrined in the Treaty on the Functioning of the European Union (Art.
under the Cohesion Policy: the European Regional Development Fund (ERDF) the Cohesion Fund (CF) the European Social Fund Plus (ESF+)
The present institutional design of cohesion policy dates back to 1999. In that year the European Council of Berlin agreed upon 'Agenda 2000', a reform of a number of important EU policies.
What benefits did citizens get from the EU?
- Benefit 1 – no need for visas. ...
- Benefit 2 -full working & residential rights. ...
- Benefit 3 – subsidised tertiary education & scholarships. ...
- Benefit 4 – set up and grow your start-up or SME. ...
- Benefit 5 – right to consular protection by EU member states.
- Determine how much funding you'll need.
- Fund your business yourself with self-funding.
- Get venture capital from investors.
- Use crowdfunding to fund your business.
- Get a small business loan.
- Use Lender Match to find lenders who offer SBA-guaranteed loans.
- SBA investment programs.
Funding for most Horizon 2020 projects continue for the project's lifetime, even for projects that finish after 31 December 2020. Payment arrangements stay the same, and UK participants can continue to lead projects. They still receive any: remaining ERC, MSCA or EIC Accelerator funding they've been awarded.
Any country that satisfies the conditions for membership can apply. These conditions are known as the 'Copenhagen criteria' and include a stable democracy and the rule of law, a functioning market economy and the acceptance of all EU legislation, including of the euro.
Three management types
direct management: EU funding is managed directly by the European Commission. shared management: the European Commission and national authorities jointly manage the funding. indirect management: funding is managed by partner organisations or other authorities inside or outside the EU.
A grant or subsidy may also be received in relation to non-trading activities. In this situation, the grant or subsidy is not taxable as trading income.
What is state aid? State aid is any advantage granted by a public bodies through state resources on a selective basis, to any organisations that could potentially distort competition and trade in the European Union. The definition of state aid is broad because 'an advantage' can take many forms.
Existing managing authorities in the UK will continue to manage ERDF grants after Brexit. The ERDF programmes are managed by: the Ministry of Housing, Communities and Local Government in England. devolved administrations in Scotland, Wales and Northern Ireland.
Existing managing authorities in the UK will continue to manage ERDF grants after Brexit. The ERDF programmes are managed by: the Ministry of Housing, Communities and Local Government in England. devolved administrations in Scotland, Wales and Northern Ireland.
The Just Transition Fund is a new financial instrument within the Cohesion Policy which aims to provide support to territories facing serious socio-economic challenges arising from the transition towards climate neutrality.
What is regional funding?
What Is a Regional Fund? A regional fund is a mutual fund run by managers who invest in securities from a specified geographical area, such as Latin America, Europe, or Asia. A regional mutual fund typically owns a diversified portfolio of companies based in and operating out of its specified geographical area.
The Recovery and Resilience Facility (RRF) is the main pillar of the European recovery plan, Next Generation EU, designed to provide financial aid to Member States in order to combat the economic and social effects of the COVID-19 pandemic and make the European economy more resistant to future shocks.
