Economic growth and employment
At the end of 2022, cohesion policy funding for the period 2014-2020 represented approximately 13% of total public investments in the EU and up to 51% for the least developed Member States, supporting over 4.4 million businesses and creating 370,000 jobs.
Green transition
Cohesion policy has contributed to the realization of the green transition by allocating 69 billion of € between 2014 and 2020. Thanks to these investments, 550,000 families were able to benefit from improved energy performance of buildings; 6,000 MW of renewable energy capacity was generated (the annual electricity needs of approximately 4 million families); flood protection measures have been put in place for 17 million people; Habitat conservation measures were implemented on 3.4 million hectares and water supplies improved for 6.9 million people. The report highlights, however, that i Climate change exacerbates inequalities between regions, impacting most heavily on the coastal, Mediterranean and south-eastern regions of the EU, where the costs of climate change may represent every year more than1% of GDP.
Digital transition
Between 2014 and 2020 cohesion policy has invested €14 billion to bridge the digital divide, both socially and geographically, for example by improving access to e-government and e-health services and promoting broadband deployment in remote and rural regions. The performance of fixed networks has improved in all Member States and 7.8 millions of families have been able to benefit from a better broadband connection.
Crisis management
Cohesion policy has proven itself a flexible instrument capable of supporting Member States and regions in times of crisis. In particular, thanks to the two support packages introduced in spring 2020 (CRII and CRII+), €23 billion to fight the pandemic COVID-19, notably supporting the purchase of ventilators, vaccines and medicines for hospitals, the hiring of additional health workers and the provision of home care services for vulnerable groups. Cohesion funds also offered financial support for investments in IT equipment for SMEs to adapt to the “new normal”. Also thanks to this support, all categories of regions returned to 2019 GDP levels two years after the COVID-19 health crisis.
Cohesion policy has also helped the regions to welcome people fleeing from Russia’s war of aggression against Ukraine. This funding supported the construction of reception centers and shelters and investments in mobile hospitals and sanitation facilities. Support was also provided in the areas of employment, education and social inclusion, for example through language courses, psychological assistance and access to childcare and healthcare.
