In this article, certain aspects of the European Union’s (EU) approach to funding regional development projects are discussed. The purpose of each EU fund and the projects EU is financing as well as the criteria for countries to apply for a fund are also mentioned? It focuses on the EU regional policy, plan of EU for and equality among EU member states and the willingness for the strategic and effective development of less developed EU member states. More specifically the Cohesion Policy (CP) is discussed, together with its role in the EU, including its objectives, philosophy, criteria, and projects. CP is funding projects to promote environmentally sustainable and infrastructure projects. According to CP the development infrastructure boosts socioeconomic cohesion, which is key in the establishment of a control mechanisms and tackling operational weaknesses. Finally, the case study of “Ionia Odos” (or Greece A5 motorway) is analysed, as a typical example of infrastructure investment under the CP.
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