Regional allocation of EU regional and structural policy funding supports regions’ long-term development

NordenBladet — On 30 September 2021, the Ministerial Committee on Economic Policy agreed on guidelines for the regional allocation of funding under the EU regional and structural policy programme Innovation and Skills in Finland 2021–2027. During the next programming period, funding will be distributed slightly more evenly between the different regions.Funding for the 2021–2027 programming period comes from three different funds: the European Regional Development Fund (ERDF), the European Social Fund (ESF+) and the Just Transition Fund (JTF). The objective of the EU’s regional and structural policy is to even out disparities in regional development in Europe and to boost the growth and competitiveness of the Union’s economy.Regional allocation ensures current level of funding for Eastern and Northern FinlandDetermining the regional allocation of funds for the whole programming period helps to safeguard the regions’ long-term efforts to develop their vitality and competitiveness. The objectives of the Innovation and Skills in Finland programme are related to the development of SMEs, RDI activities, employment, skills and equal opportunities. The regional allocation has been drawn up in such a way that no region will lose funding compared to the current programming period when taking into account total EU and central government funding. The allocation solution also utilises the remaining funding from the current programming period (approximately EUR 30 million). This funding will be allocated to Eastern and Northern Finland.The regional allocation of EU regional and structural policy funding falls under the scope of Finland’s national decision-making power. Special funding for sparsely populated areas is being allocated to Eastern and Northern Finland.The Government will adopt the Innovation and Skills in Finland 2021–2027 programme in October, after which it will be submitted to the European Commission for approval. The programme will be launched in November 2021.

Source: Valtioneuvosto.fi