European Structural & Investment Funds
The European Structural & Investment Funds 2014 – 2020 have been designed by the European Union (EU) to promote smart, sustainable and inclusive growth and cohesion across different areas of the EU. They bring significant investment into local areas across a range of activities including supporting the competitiveness of small and medium-sized enterprises (SMEs), improving access to finance for SMEs, enhancing innovation capacity, supporting access to employment, developing the skills base and promoting social inclusion.
The funds available to the United Kingdom are:
- The European Regional Development Fund (ERDF);
- The European Social Fund (ESF);
- The European Agricultural Fund for Rural Development (EAFRD); and
- The European Maritime and Fisheries Fund (EMFF).
Tees Valley Unlimited has received an allocation of European Structural and Investment Funds for the full seven year period.
- £173 million from the ERDF and ESF
- £12.59 million of EU Youth Employment Initiative Funding
- £1.1 million from the EAFRD
The Tees Valley European Structural and Investment Funds Strategy sets out the key priorities for the investment of the European Funds. It is available to download here.