What is ESEP? | What are European structural funds? | What is ERDF?
			what is the European Regional Development Fund (ERDF)? ERDF is a means of providing investment in a region which in turn, will lead to jobs being created or maintained. It provides assistance for people to start or expand businesses; to develop sites and premises for businesses or tourism facilities which will help attract visitors from outside the region and it provides assistance to local groups who want to develop their communities. Structural Funds are often seen as the last potential source of financing for a project. ERDF is used by applicants to part finance projects which would otherwise not go ahead. Projects must however have other sources of finance in place as ERDF can only provide up to a maximum of 50% of the co-financing. ERDF in the East of Scotland 2000-2006 ERDF for the period 2000-2006 for assistance in the East of Scotland will have a budget of 250m Euro. This converts to approximately £146m. Promoting sustainable economic development in the East of Scotland will be delivered by targeting resources at a number of priorities for development. These are detailed below: