Further Information : Competitiveness
More growth and jobs for all regions and cities of the European Union - the Lisbon Agenda will be at the heart of cohesion policy and its instruments between 2007 and 2013.
During that period, the greatest investment ever made by the EU through cohesion instruments will be worth € 308 billion to support regional growth agendas and to stimulate job creation.
82% of the total amount will be concentrated on the Convergence objective, under which the poorest Member States and regions are eligible. In the remaining regions, about 16% of the Structural Funds will be concentrated to support innovation, sustainable development, and better accessibility and training projects under the Regional Competitiveness and Employment objective.
Another 2.5% is available for cross-border, transnational and interregional cooperation under the European Territorial Cooperation objective.
Certain spending targets have been agreed upon to pursue the objectives of the Lisbon Agenda - growth and jobs. In the case of the Convergence objective, the target is 60%, and in the case of the Regional Competitiveness and Employment objective, the target is 75% of the total available funding, which needs to be earmarked for interventions supporting, for example, research and innovation, the information society and sustainable development.
The Convergence Objective replaces the current Objective 1 and supports the economic convergence of the poorest Member States and regions. In Scotland, the Highlands and Islands qualify for 'phasing-out' Convergence funding.
The Regional Competitiveness and Employment Objective replaces the previous Objectives 2 and 3 and supports projects to increase competitiveness, employment and skills in regions not eligible for the Convergence Objective. Lowlands and Uplands Scotland is eligible for funding under the Competitiveness Objective, and this has two main components:
- A regional development Programme financed by ERDF to strengthen regional competitiveness and attractiveness by anticipating economic and social change and supporting innovation, the knowledge society, entrepreneurship, and protection of the environment.
- A Programme financed by ESF which will help workers and companies to adapt to change and encourage the development of markets that award priority to social inclusion.
For further information, visit the European Commission DG Regio website.
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