European Funds information
1. Why does the EU need a cohesion policy?
The EU internal market brings together 28 member states with over 454 million inhabitants grouped in 268 regions. Residents of the 268 regions do not receive equal opportunities in socio-economic terms , there are less developed regions and developed regions.
There are significant disparities between EU Member States and its regions:
- wealthy or poor regions
- expansion areas in economic decline
- urban or rural areas
- regions on the periphery of the EU or in one of its economic centers.
Top 10 most dynamic regions in the EU have a Gross National Product (GNP) of more than 5 times the last 10 poorest regions in the EU.
2. What is the Cohesion Policy?
The Cohesion Policy is one of the most important and most complex of the European Union, which by its target of reducing economic and social disparities existing between the various regions of Europe, operates on some significant areas for development, such as:
- economic growth and SMEs sector
- transports
- urban development
- environmental protection
- employment and training
- education
- gender equality
- equality for disadvantaged and vulnerable persons
3. FUNDING
Funding represents the process that can provide the necessary funds for investment and / or development of activities of an enterprise, institution and nonprofit organization.
What funding sources can be used ?
Funding can be made appealing to own sources or external (outside the enterprise, institution or organization).
I. Internal sources of funding include:
- the contributions of owners or members of an organization;
- surplus resources (profit or other kind of monetary funds) generated by the enterprise, institution or organization (self-financing)
II. External sources of funding include:
- credits
- grants
- sponsorships
- other sources - donations, legacies, taxes targeted (eg. 2%)
4. In what currency will the European Union make its payments to beneficiaries ?
The European Commission manages the structural and cohesion funds in euro , for Romania the allocations for operational programs are all in euro.
Structural and Cohesion Funds received from the European Commission will be kept in the accounts of commercial banks. Romania decided that contracts with beneficiaries will be signed in lei and all payments will be made also in lei.
National public co-financing will be held centrally, allowing co-financing payment with payment related to EU funds. Local authorities will provide co-financing funds.
Projects funding