Saturday, December 9, 2023

European Structural and Investment Funds supported SMEs, employment of millions of people and clean energy production

02.02.2023, 07:38 Update: 16.02.2023, 12:44
EC - Audiovisual Service
EC - Audiovisual Service

In 2014-2020, the European Structural and Investment Funds (ESI Funds) unleashed a total investment of €731 billion, of which €535 billion was funded by the EU, fostering lasting socio-economic convergence, territorial cohesion, social Europe and a smooth green and digital transition.

This is explained in the 2022 Summary Report on the Implementation of the ESI Funds adopted by the Commission.

The report presents the achievements of the ESI Funds by the end of 2021: more than 4 million small and medium businesses (SMEs) were supported; 55.2 million people were supported through employment, social inclusion or skills and education actions; energy production capacity was increased by more than 3,600 megawatt hours/year resulting from renewable energy resources whilst the annual primary energy consumption of public buildings was reduced by 2.6 terawatt hours/year (equivalent to the amount of electricity consumed by around 720,000 households for a whole year); 2.3 million projects supported the agricultural sector and rural SMES becoming more competitive, and helped create jobs in rural areas; in the fishing and aquaculture sector 44,000 jobs were maintained and more than 6,000 new jobs were created.

ESI Funds were also at the frontline of the support to Member States and Regions to face the COVID-19 pandemic and its economic impact.

Elisa Ferreira, Commissioner for Cohesion and Reforms said: „Cohesion Policy has been the lifeline supporting Member States and Regions tackle recent crises. In doing so, it prevented the aggravation of internal disparities in our Union and boosted economic, social and territorial cohesion in the EU. Its results and concrete benefits to our citizens are clearly demonstrated in this report.”

Thanks to temporary flexibilities introduced into Cohesion Policy in the wake of the health emergency, Member States were given the possibility to re-allocate unspent Cohesion Policy funds to priority areas such as healthcare, short-time work schemes and support to SMEs.

ESI Funds have been distributed since the outbreak of the pandemic in 2020 and 2021 to cover the emerging needs of medical institutions, researchers, business owners, employees, and vulnerable people.



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