European Regional Development Fund

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European Regional Development Fund

Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson

European Regional Development Fund (ERDF)

an organization established by the EUROPEAN UNION in 1975 to provide financial assistance to impoverished areas of the EU. The ERDF has provided cash grants for a broad spectrum of projects in areas of industrial decline, ranging from tourism infrastructure in Wales to a regional airport in Lorraine, France. Support for such projects remains important, but increasingly under the EU's REGIONAL POLICY programme the ERDF's work has focused on supporting the ASSISTED AREAS (i.e. regions and localities where GDP per capita is significantly lower than the EU average). In these areas the ERDF supports infrastructure projects, such as roads, railways, electricity and gas distribution, and provides funds to modernize traditional industries and establish new ones. See EUROPEAN INVESTMENT BANK.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive ?
The REPS project represents over PS2m of investment, PS1m of which is through the European Regional Development Fund with match funding from the university.
[bar] Milford Haven Port Authority has shortlisted eight companies from across the UK to tender for the European Regional Development Fund backed project
For example, Advantage West Midlands provided pounds 10 million for research into advanced materials at the universities of Birmingham and Warwick, with half the cash coming from its own budget and half from the European Regional Development Fund.
The European Regional Development Fund cash, dubbed Objective 2 after two six-year payments of Objective 1 cash, will be controlled by the Northwest Development Agency (NWDA).
The project is funded by the European Regional Development Fund, the Glasgow Development Agency, Glasgow City Council and Clydeport.
The support on offer is funded through just over PS412,000 from the European Regional Development Fund, which is managed by the Department for Communities and Local Government and matched by PRIME - Prince's Initiative for Mature Enterprise.
Communities minister Baroness Hanham CBE said: "It is essential all businesses can develop and be part of the digital economy allowing them to reap the associated rewards and their growth potential, so I am delighted the European Regional Development Fund is helping businesses in Northumberland.
The Cyfenter Competitive Fund is being jointly funded by the Welsh Government and the European Regional Development Fund.
The grant came from the European Regional Development Fund, which supposedly exists to "promote economic and social cohesion by correcting the main regional imbalances and participating in the development and conversion of regions".
HAMBLETON is the only rural authority in Yorkshire and the Humber so far to receive funding from the European Regional Development Fund which helps local firms grow.
The European Parliament's Committee on Regional Development adopted, on 9 March in Strasbourg, a report by Emmanouil Angelakas (EPP-ED, Greece) that gives MEPs' go-ahead for the revision of rules under the European Regional Development Fund (ERDF) to allow the co-financing of energy investments in housing in all the EU member states.

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