Regional policy is the main EU investment strategy under the EU's cohesion policy (2014-2020), with a budget of over €350 billion. The policy is delivered through five funds, which together form the European Structural and Investment Funds (ESIF). The European Regional Development Fund and the Cohesion Fund deliver the majority of the financing. They are jointly administered by the European Commission and national authorities in the EU countries.
The funds support 11 thematic priorities that have been set by the cohesion policy, including two that are relevant for Urban Mobility:
- Supporting the shift towards a low-carbon economy
- Promoting sustainable transport improving network infrastructures
European Regional Development Fund (ERDF)
- The ERDF promotes balanced development in the different regions of the EU.
- ERDF finances INTERREG which covers four interregional cooperation programmes. While each programme can support urban transport projects, URBACT specifically focuses on fostering sustainable integrated urban development.
- Urban Innovative Actions (UIA) is an Initiative of the European Union that provides urban areas throughout Europe with resources to test new and unproven solutions to address urban challenges. The initiative has a total ERDF budget of €372 million for 2014-2020.
Cohesion Fund (CF)
The CF supports transport and environment projects and is aimed at Member States whose Gross National Income (GNI) per inhabitant is less than 90% of the EU average.