- 03 May 2023
EU Cohesion Policy Unveils Ambitious Plan to Create Over a Million Jobs by 2027
Cohesion policy funding for the period 2021-2027 is expected to have a positive impact on the European Union's economy. It is expected to create around 1.3 million jobs and increase EU GDP by an average of 0.5% by the end of the decade, with some Member States experiencing an increase of up to 4%. Moreover, the policy will facilitate the delivery of a range of public goods that will bring tangible benefits to European citizens, regions and cities. Cohesion policy aims to mobilise a total investment of €545 billion over this period, of which €378 billion will be financed by the EU. These investments will facilitate sustainable socio-economic convergence, territorial cohesion and promote a socially inclusive Europe, while ensuring a seamless and equitable transition towards a green and digital economy. The aim of this policy is to facilitate the development and integration of technology in public services, which include more than 22,500 administrative bodies, and to promote the digital transformation of commercial entities. It also aims to improve digital skills and infrastructure by providing 3.1 million households with access to high-speed mobile networks and fixed digital infrastructure.
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