Parliament gives go-ahead to Structural Funds package
The European Parliament's Regional Development Committee has adopted a set of reports, supporting the Structural Funds package for 2017-2013, for which a total budget of EUR 308 million - 35 per cent of the total EU budget - is foreseen. The reports define the new objectives for the Structural Funds, which include the European Regional Development Fund (ERDF), European Social Fund (ESF), and the Cohesion Fund, based around three areas: convergence; regional competitiveness and employment; and European territorial cooperation. The reports also specify the financial resources and criteria for Funds' allocation. The Funds are expected to provide continued support to research, technological development and innovation (RTDI). Currently, Structural Funds allocate some10.5 billion in the form of grants to RTDI activities. Some 97 per cent of this support comes from the European Regional Development Fund (ERDF), and around eight per cent of total ERDF resources are invested in research and innovation. The reports are due to be adopted during the Parliament's plenary in July. The funds will be available as of 1 January 2007.