The ERDF aims to strengthen economic and social cohesion in the European Union by correcting imbalances between its regions. Along with the other funds that form the European Structural and Investment Funds (ESIF), the ERDF seeks to contribute to the Union’s strategy for smart, sustainable and inclusive growth in an effort to address regional imbalances. The third Regional Operational Programme (ROP) for the Border, Midland and Western (BMW) Region is a funding package of €320 million from the European Regional Development Fund (ERDF) and the Irish exchequer and invested in the region between 2014 and 2020.
EU legislation sets out the objectives for the ERDF and has identified 11 Thematic Objectives to facilitate Member States in adopting a common approach to the design of their Regional Operational Programmes. As the BMW Region is classified as a ‘more developed’ region the regulation prescribes that at least 80% of the ERDF allocation has to focus on the first four Thematic Objectives, therefore the BMW Regional Operational Programme focuses on a limited number of priorities.
The total fund is €320 million which is 50% co-funded by the ERDF. The priorities for the BMW Regional Operational Programme are:
- Strengthening Research, Technological Development & Innovation (RTDI) in the BMW Region
- Enhancing access to, and use and quality of ICT
- Enhancing the competitiveness of SMEs
- Supporting the shift towards a low-carbon economy in all sectors
- Sustainable Urban Development
The overall funding for the BMW Regional Operational Programme 2014-2020 is as follows:
|Priority||Fund||EU Support||National Support||Total|
|Low Carbon Economy||ERDF||18m||18m||36m|