About the Multiannual financial framework: http://ec.europa.eu/budget/mff/index_en.cfm
Over 76% of the EU budget is managed in partnership with national and regional authorities through a system of “shared management”, largely through 5 main funds – the Structural & Investment Funds. Collectively, these help to implement the Europe 2020 strategy:
- European Regional Development Fund (ERDF) – regional and urban development
- European Social Fund (ESF) – social inclusion and good governance
- Cohesion Fund (CF) – economic convergence by less-developed regions
- European Agricultural Fund for Rural Development (EAFRD)
- European Maritime and Fisheries Fund (EMFF)
The European Agricultural Guarantee Fund (EAGF) is also under shared management and it primarily finances direct payments to farmers and measures regulating or supporting agricultural markets.
Other funds are managed directly by the EU. These are provided in the form of:
- Grants for specific projects in relation to EU policies, usually following a public announcement known as a ‘call for proposals’. Part of the funding comes from the EU, part from other sources.
- Contracts issued by EU institutions to buy in services, goods or works they need for their operations – like studies, training, conference organisation, IT equipment. Contracts are awarded through calls for tender.