European funding is a means by which the EU grants capital to companies or individuals, mainly free of charge, in order to support activities in Europe belonging to sectors of high interest for economic growth and social cohesion.
In detail, there are different types of European funding divided by area of interest in which the company, foundation or individual operates:
- European funding for humanitarian aid
- European funding for urban and regional development
- European funding for research and innovation
- European funding for employment and social inclusion
- European funding for agriculture and rural development
- European funding for maritime and fisheries policies
European Funding: how it works
In order to have access to European funding, a variety of strict regulations must be respected and checks are constantly implemented to certify the correct spending of the capital granted through European funding.
Most European funding is managed directly by the governments of the beneficiary countries.
European funding is mainly managed through large funds:
- European Regional Development Fund (ERDF), for regional and urban development
- European Social Fund (EDF), for social inclusion and good governance
- Cohesion Fund (CF), for the economic convergence of less developed regions
- European Agricultural Fund for Rural Development (EAFRD)
- European Maritime and Fisheries Fund (EMFF).
There are other European funds that are managed directly by the European Union.
European Funding: disbursement
European funding is disbursed through two instruments:
grants that are aimed at specific projects in fields corresponding to EU policies, usually created following a call for proposals. Part of the funding comes directly from the EU, part from other sources.
tenders with the aim of purchasing services, goods or works necessary for the activities of companies, including studies, training courses, conferences or IT products. According to the law, contracts are won through calls for tenders.
The winning entities of contracts for European funding and the names of the beneficiaries of the grants are online.
