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The European Regional Development Fund (ERDF) helps stimulate economic development and regeneration in the least prosperous regions of the European Union (EU).
Funding is targeted to meet three objectives set down by the European Commission (EC):
Since 2000, England has benefited from more than £5bn of ERDF funding, with a further 3.2bn Euros being invested in projects for the new round of programmes (2007-13). These programmes are designed to meet current needs by targeting employment, small and medium-sized enterprises (SMEs), innovation, high-tech business investment, among other key priorities identified by each region.
ERDF has helped a wide variety of projects - from large scale public works to small local initiatives. All are designed to benefit the regional or local economy. Grant goes to projects that would not have taken place without ERDF.
To date, key achievements with ERDF assistance in England include:
Notable projects which have benefited from ERDF funding include:
More generally, ERDF-aided projects have:
