2000-2006 Western Scotland Objective 2 Programme
The European Union gives aid to less developed
regions of Europe in the form of European Structural Funds. Western
Scotland is one of various regions within the UK to receive and benefit
from these funds. European Funds are targeted on specific problems
or areas of economic need. The two main types of European Funding
that Western Scotland receives and that SEP Ltd deals with are:
- European
Regional Development Fund (ERDF)
- European Social Fund (ESF)
European Regional Development Fund
The European Regional Development Fund (ERDF)
aims to assist economically disadvantaged regions in the European
Union to achieve economic performance comparable to the EU average.
In Western Scotland the 2000-06 Objective 2 Programme provided ERDF assistance
to support public sector initiatives that contributed to the economic
regeneration of the economy.
ERDF co-financed up to 50% of eligible costs
depending on the type of project as follows:
- investment funds and
business development schemes which developed the competitiveness
and innovative capacity of the region's small and medium sized
businesses (SMEs)
- large scale site development, business and learning
facilities and tourism developments which developed the region
as a competitive location
- business and learning facilities, environmental
improvement, capacity building and community employment initiatives
which increased the economic and social cohesion of the region.
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