Proposal for a Regulation of the European Parliament and of the Council on the European Regional Development Fund

Summary:

Article 158 of the EC treaty establishes the community objective of promoting harmonious development, and article 160 provides for the European Regional Development Fund ERDF, in order to support the correction of regional imbalances.

The most recent enlargement has heightened regional disparities within the EU, with a large increase in regions whose development is lagging. With GDP per head ranging from 30% to 75% of the community average, they are faced with the challenge of achieving convergence. In the more developed regions, on the other hand, the continuing challenge is to establish and reinforce their relative attractiveness by increasing their competitiveness in order to contribute to the harmonious development of the Community’s territory,.

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