In the period 2014-2020, the European structural and investment funds (ESI funds) unlocked a total investment of 731 billion euros, of which 535 billion euros were financed by the EU, promoting lasting socio-economic convergence, territorial cohesion, Social Europe and a seamless green and digital transition.
More than 4 million SMEs received support through the European structural and investment funds; Over 55 million individuals were impacted positively through employment, education, and social inclusion initiatives; Renewable energy production rose by over 3600 MWh/year and primary energy consumption in public buildings was reduced by 2.6 TWh annually, saving the equivalent energy consumption of 720,000 households for a full year.
Over 2.3 million projects in the agricultural sector and rural SMEs received support to increase competitiveness and create job opportunities in rural areas. Additionally, the fisheries and aquaculture sector was able to maintain 44,000 jobs and create over 6,000 new ones.
The European Structural and Investment Funds were instrumental in aiding Member States and regions to tackle the COVID-19 pandemic and its economic effects. The flexibility measures put in place in the policy of cohesion, as a result of the health crisis, allowed Member States to redirect unused Cohesion Policy funds to crucial areas like healthcare, support for SMEs, and working hour reduction programs.
The ESI Funds were put into action during the COVID-19 pandemic of 2020 and 2021 to cater to the growing needs of medical facilities, researchers, businesses, workers, and vulnerable individuals. Additionally, the funds played a crucial role in enhancing the skills of millions of low-skilled individuals, many of whom received formal certifications.
The ESI Funds also had a pivotal impact in the promotion of energy efficiency, the growth of renewable energy, building renovations, and market integration – all crucial components of the EU’s energy security strategy. With its support, Member States and regions were able to tackle energy poverty while reducing greenhouse gas emissions and generating sustainable job opportunities in the construction and building industry.
