European Funds Management Related to the Cohesion Policy 2021-2027

Author:Manuela Panaitescu
Position:Senior Lecturer, PhD, Danubius University of Galati, Faculty of Economic Sciences, Romania
Pages:539-544
ISSN: 2067 9211 Miscellaneous
539
European Funds Management Related
to the Cohesion Policy 2021-2027
Manuela Panaitescu1
Abstract: According to the allocations proposed by the European Commission for Cohesion Policy, in the
period 2021-2027, Romania will benefit from a financing of about 30 billion euros. The purpose of the research
is to analyze the changes proposed by the EC in comparison with the programming period 2014-2020 and the
importance of the European funds for Romania and the previous research in the field continues. The study will
lead to a better information of the potential beneficiaries of the European projects that can be prepared i n
advance, thus contributing to the increase of the absorption of the allocated funds.
Keywords: Programming documents; Cohesion Policy; European Structural and Investment Funds
JEL Classification: D73; E61; O38; F36
The European Union is making great efforts to successfully implement the principle of cohesion by
investing money in infrastructure and assisting regions. Currently, there is only one set of rules
governing the European Union's Structural and Investment Funds, namely the ESF (European Structural
and Investment Funds). These rules aimed at establishing a clearer link between the Europe 2020
strategy in terms of stimulating smart, supportive and sustainable growth of EU inclusion, as well as
improving coordination and ensure consistency in the implementation of these principles and simplify,
as far as possible, the access of FESI by potential beneficiaries.
The European Commission has issued common rules for seven shared-management funds to reduce the
fragmentation of the use of financial resources made available to Member States from the European
Union budget. At the same time, the proposal for a common regulation aims at improving the
coordination and harmonization of the implementation of funds providing contributions under cohesion
policy, namely the European Regional Development Fund (ERDF), the European Social Fund (ESF)
and the Cohesion Fund (CF), with the Fund for the maritime and fisheries sector and the European
Fisheries and Maritime Fund (EMFF). Consideration was also given to ensuring an adequate and
complementary joint response to the challenges posed by migration and security crises, i.e. joint
governance with funds related to internal affairs, namely the Asylum and Migration Fund, the Internal
Security Fund and the Instrument for border and visa management (Figure no. 1).
In accordance with the principle and rules of shared management, Member States have the primary
responsibility for the management and control of Union non-reimbursable financial assistance, and the
legislative package promoted for this purpose for the implementation of European funds 2021-2027
1 Senior Lecturer, PhD, Danubius University of Galati, Faculty of Economic Sciences, Romania, Address: 3 Galati Blvd.,
Galati, Romania, Tel.: +40372361102, Fax. +40372361290, Corresponding author: manuelapanaitescu@univ-danubius.ro.

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