Structural Funds in Romania for 2014-2020

August 27, 2014

Hat: The European Commission adopted the "partnership agreement"

Funding Scheme: 2014-08-27

Amorce:

The European Commission adopted the “partnership agreement” with Romania on the mobilization of structural funds and EU investment in support of growth and employment for the period 2014-2020.

Text:

This agreement covering all regions of the country defines the strategy to be implemented for the optimal use of Structural Funds and European investment, up to 23 billion euro in total. These investments increased since 2007-2013, which put Romania on the path to employment and growth for the next ten years include the financing of European territorial cooperation and the allocation for the initiative for youth employment, under the cohesion Policy for 2014-2020. Romania, the first country to have established contractual relations with the EU European countries, also receives 8 billion euro for rural development and 168 million euro for the shipping industry and fishing in particular through the EAFRD and EMFF.

The main objectives of these investments are focused on the fight against unemployment, the development of a green economy in the effective use of resources and the promotion of entrepreneurship. These funds will also be used to boost competitiveness and promote economic growth by supporting innovation, education and training in cities of all sizes and rural areas and to combat social exclusion.

The Structural Funds and European investment (ESI Fund) consist of:

European Regional Development Fund (ERDF)
European Social Fund (ESF)
Cohesion Fund (CF)
European Agricultural Fund for Rural Development (EAFRD)
European Maritime & Fisheries Fund (EMFF)

This strategy is based on the significant commitment brought by Romania to help the EU achieve the objectives of the 2020 Strategy efficiently, in smart and sustainable growth, social inclusion and climate change mitigation. In return, these investments will develop the competitiveness of the country, in urban and rural areas, in growth sectors such as ICT, energy, engineering, nanotechnology and bio-economy, ensuring benefits for the economy Romania and its citizens.