The European Parliament approves new cohesion policy 2014-2020

Key rules and regulations for implementing EU cohesion policy in 2014-2020 were endorsed by Parliament on 20. November. One third of the EU budget for 2014-2020 (€325bn) will be invested in member states, to boost regional development, with a strong focus on employment, energy efficiency, innovation and research. In a compromise deal struck with the Council after more than a year of tough negotiations, MEPs secured substantial funding for EU regions to invest in their development projects, on terms fairer to them.

A new "common strategic framework", will provide a single source of guidance for the five principal EU development funds, so as to better integrate EU policies and simplify procedures. Also, the new rules will concentrate investment on a small number of themes linked to the "Europe 2020" (EU's overarching growth strategy) targets. This should build critical mass, for better results.

Source and more information: the European Parliament