EU Investment 2014-2020

During the 2014–2020 programming period, EU Member States were prepared to create added value within the EU as efficiently as possible, without increasing financial resources, through EU budget funds allocated to the EU Cohesion Policy. Therefore, during this period, particular emphasis was placed on the link between EU Cohesion Policy and the objectives of the Europe 2020 Strategy – promoting economic growth and job creation, with the aim of moving steadily towards smart, sustainable and inclusive growth.

A total of EUR 6.709 billion was allocated to achieving the objective of economic growth and job creation under the 2014–2020 Operational Programme for EU Structural Funds Investments:

• EUR 3.501 billion from the European Regional Development Fund;
• EUR 1.127 billion from the European Social Fund;
• EUR 2.049 billion from the Cohesion Fund;
• EUR 31.8 million from the special allocation for the Youth Employment Initiative.

In pursuing the objective of economic growth and job creation, the 2014–2020 programming period placed a strong emphasis on developing a high-value-added economy. Funding was concentrated in areas capable of ensuring long-term and sustainable economic growth and enhancing competitiveness.

Around 10% of EU Structural Funds were planned to be allocated to research, experimental development and innovation, and around 8% to the promotion of small and medium-sized enterprises. These investments were expected to contribute to improving the conditions for attracting both domestic and foreign investment, increasing business competitiveness and creating the conditions for faster economic growth.

Investments in energy efficiency and renewable energy were also of major importance, with 14.5% of EU Structural Funds for the 2014–2020 period earmarked for these areas. A further 3.6% of the funds was planned to be allocated to the development of the information society.

During the 2014–2020 programming period, significant efforts were made to simplify administrative processes by standardising procedures and digitising forms, thereby reducing paperwork. Simplified reporting requirements were also applied to projects with a value of up to EUR 50,000.

Measures were also taken to improve planning and reduce the duplication of activities, while ensuring better coordination with other EU instruments, such as the Horizon 2020 programme, the Connecting Europe Facility and the Employment and Social Innovation Programme.