European Resource Procurement - European funding
The European Union (EU) budget is made up of a proportion of
the VAT charged on goods and services in the EU Member States, a
share of each country’s Gross National Product (GNP) and custom
duties from non-EU countries on goods that are imported into the
EU.
A large proportion of this budget is redistributed into four
Structural Funds each used to enhance the economic and social
development of regions perceived to be lagging behind.
A region may have access to one or more of the four Structural
Funds, depending on whether it has Objective 1 or 2 status; all
regions have Objective 3 status. The four Structural Funds are
the:
- European Regional Development Fund (ERDF)
- European Social Fund (ESF)
- European Agricultural Guidance and Guarantee Fund (EAGGF)
- Financial Instrument for Fisheries Guidance (FIFG)
Useful Links
http://www.cec.org.uk/.