EU Cohesion Policy contributing to employment and growth in Europe. Joint paper from the Directorates-General for Regional & Urban Policy and Employment, Social Affairs & Inclusion

The European Union's cohesion policy – funded with €346bn from the European Regional Development Fund (ERDF), the European Social Fund (ESF) and the Cohesion Fund - represents 35% of the Union's budget over the period 2007-2013. Together with the co-financing provided by Member States, cohesion policy accounts for a very significant proportion of public investment in Europe. As part of the essential economic policy package of macro-economic and fiscal stability, structural reforms and growth enhancing measures, EU cohesion policy is making a significant contribution to investments in employment and growth in Europe.

The policy is now delivering significant results. SMEs, business support and innovation for growth are in particular key investment areas in all Member States supported by the Structural Funds, and notably the ERDF. SME and other enterprises benefit from both direct investments into business and from other contracts and services funded through EU cohesion policy.