Background note on cohesion policy

Totalling EUR 392 billion for the 2021-2027 period, Cohesion Policy is the main EU investment policy to implement the Treaty objective of strengthening the economic, social and territorial cohesion of the EU and reducing disparities between the levels of development of various regions. Cohesion Policy targets all regions and cities in the European Union in order to support job creation, business competitiveness, economic growth and sustainable development, and improve citizens' quality of life. Cohesion Policy is delivered through four specific funds in the years 2021-2027: the European Regional Development Fund (ERDF), to invest in the social and economic development of all EU regions and cities; the Cohesion Fund (CF), to invest in environment and transport in the less prosperous EU countries; the European Social Fund Plus (ESF+), to support jobs and create a fair and socially inclusive society in EU countries; and the Just Transition Fund (JTF) to support the regions most affected by the transition towards climate neutrality. With its unique features of partnership and multi-level governance, Cohesion Policy is the flagship EU policy that puts local and regional levels at the centre, making cohesion a fundamental value of the EU.