Convergence Instruments of Western Balkan Countries
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Abstract
The fundamental objective of the EU regional policy is to reduce differences in development between regions in Europe. EU is directing structural funds to the regions which need help, and in that way EU helps to raise the level of employment and living standards. Financing is based on 4 main principles of regional policy. For the candidate countries are intended the pre-accession instrument IPA. Candidate countries have problems in using that intended resources due to inefficient public administration.
New member countries allocate the majority of resources from the ESF (European Social Fund), ERDF(European Regional Development Fund) and the Cohesion Fund, with special emphasis on growth, employment and European territorial cooperation. These objectives also form the basis of the financial perspective 2014. - 2020. During that financial perspective the total amount for regional policy in EU budget will be near to 32%.
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