European Regional Development Fund

The European Regional Development Fund (ERDF) aims to reduce economic disparities between regions, for example though investments in companies and infrastructure. Responsibility for managing the programmes in the UK is spread across the Devolved Administrations, the Greater London Authority and the Department for Communities and Local Government (DCLG). England’s allocation for 2007-13 is €458.1 million of Convergence funding (which focuses on the less developed regions of the EU), and €2.8 billion of Regional Competitiveness and Employment funding (which focuses on increasing a region’s competitiveness). According to the latest available figures, 74% of England’s available Convergence funding and 61% of its Regional Competitiveness and Employment funding has been allocated.

The European Commission has published proposals for the 2014-20 funding round, and BIS has issued an informal consultation on how the funds can be put to best use in England. In early 2013, the UK Government and the Devolved Administrations will consult on a Partnership Agreement, setting out how the Funds will be deployed. The Agreement will then be submitted to the European Commission for approval.