European Funding Programmes
The two main European Funding programmes in the North East are the European Regional Development Fund (ERDF) and European Social Fund (ESF) programmes.
The European Structural and Investment Funds (ESIF) will allocate more than £450m to the North East for 2014-2020. The two main European Funding programmes are the European Regional Development Fund (ERDF) and the European Social Fund (ESF). These two programmes aim to support the North East Strategic Economic Plan for the targeted period.
ERDF investment in the North East England for 2014-2020 focuses mainly on four key priorities:
· Business support and access to finance
· Economic assets and infrastructure
· Low Carbon growth
The Department for Communities and Local Government is responsible for day-to-day management and implementation of the ERDF programme and is accountable to the Local Management Committee, ensuring that the region complies with European Union regulations and delivers an ambitious and successful programme.
In our area, the programme is worth £244 million for the period 2014-2020.
ESF focuses on improving employment opportunities, promoting social inclusion and investing in skills by providing help people need to fulfil their potential. The two main priorities for this programme are:
- Inclusive Labour Markets, which combines activities to address employment and social inclusion
- Skills for Growth
The management of ESF is undertaken through three co-financing organisations. The lead agencies are the Department for Work and Pensions, Skills Funding Agency and the National Offender Management Service.
In our area, the programme is worth £200 million for the period 2014-2020.
The six strategic themes aim to give more opportunities to businesses and local people to enable an inclusive, entrepreneurial and sustainable economy.