Crèches in rural areas, training for job-seekers, and support for women to set up businesses are examples of projects that have been launched in France with the support of of European Structural and Investment Funds.
Europe 2020 strategy and European funds
All EU policies have the common aim of promoting jobs and growth as part of the Europe 2020 strategy, in order to tackle the crisis and address major challenges facing the EU. This European strategy, signed in 2010, aims for “smart, sustainable and inclusive” growth and sets objectives in the areas of research and development, employment, education, climate, and combatting poverty
These objectives are implemented through a multiannual financial framework defined for the 28 Member States over seven years. It amounts to 960 billion euros for the 2014-2020 period.
Policies entrusted to Member States
In this context, the EU entrusts Member States with the management of a portion of these budgets. Three policies are involved. This concept is known as shared management.
European funds for financing these policies
These three policies are financed by the « European Structural and Investment Funds (ESIF) ».
- The European Regional Development Fund (ERDF), the European Social Fund (ESF), and theYouth Employment Initiative (YEI) also known as the structural funds, as part of the economic, social and territorial cohesion policy ;
- The European Agricultural Fund for Rural Development (EAFRD) which supports rural development as part of the common agricultural policy ;
- The European Maritime and Fisheries Fund (EMFF) as part of the maritime affairs and fisheries policy.