What are the Structural Funds?
The Structural Funds were created to help those regions, within Europe, whose development is lagging behind, in order to reduce the differences between regions and create a better economic and social balance within and between Member States. Two individual funds are collectively known as the E.U. Structural Funds. These funds are:
The European Regional Development Fund. It's principal objective is to promote economic and social cohesion within the European Union through the reduction of imbalances between regions or social groups.
The European Social Fund is the E.U.'s financial instrument for investing in people. Its mission is to help prevent and combat unemployment, to equip Europe's workforce to face new challenges, and to keep people in touch with the labour market.
These two funds work together to support economic and social development across Europe.