Press Release: Structural Funds well used in 2004 to contribute to more competitiveness in the regions

Danuta Hübner, the European Commissioner responsible for Regional Policy, presented the 2004 results for Structural Funds and Cohesion instruments, 18 January 2005. Budget commitments and payments represented the highest amount ever available per year in the history of the Structural Funds. Payment requested by Member States exceeded this time even budgetary resources. This made an additional amount - €2,4 billion which were fully used - necessary to be agreed upon by the Council and the European Parliament. The absorption of the funds by new Member States which joined the EU in May 2004 was well under way.