Cohesion Fund initiated to help poorer EU nations

摘要

THE EUROPEAN COMMISSION STARTED UP THE COHESION FUND IN 1993. THE AIM OF THE FUND IS TO HELP THE POORER NATIONS OF THE EUROPEAN UNION TO INVEST IN BASIC INFRASTRUCTURE, WITHOUT OVERBURDENING THEIR NATIONAL BUDGETS. As ONLY NATIONS WITH A GDP BELOW 90% OF THE EU AVERAGE QUALIFY, IT IS SPECIFICALLY MEANT TO BRIDGE THE GAP BETWEEN RICHER AND POORER EU COUNTRIES. IN THIS RESPECT, THE COHESION FUND IS SIMILAR TO THE BETTER-KNOWN STRUCTURAL FUNDS, BUT UNLIKE THE STRUCTURAL FUNDS, THE COHESION FUND ONLY FOCUSES ON TWO SECTORS: ENVIRONMENT AND TRANSPORT.