European Regional Development Fund (ERDF)

The European Regional Development Fund (ERDF) programme will utilise 60% of the resources from the total Convergence funding.

This means a grant contribution of around £1 billion and, coupled with match funding, a total investment of around £2.2 billion for the 2007-2013 funding period.

ERDF funds will help progress the West Wales and Valleys region’s transformation into a sustainable and competitive economy by investing in the knowledge economy and helping new and existing businesses grow. They will also focus on regenerating Wales’ most deprived communities, tackling climate change and improving transport.

The ERDF Convergence Operational Programme was formally adopted by the EU Commission on 08 August 2007.

The overall aim of the ERDF Convergence Operational Programme is: “To make West Wales and the Valleys a vibrant, entrepreneurial region at the cutting edge of sustainable development”.

The Programme has identified 6 main priorities and these are:

Priority 1 – Building the knowledge based economy

Priority 2 – Improving Business Competitiveness

Priority 3 – Developing strategic Infrastructure for a modern economy

Priority 4 – Creating an attractive business environment

Priority 5 – Building Sustainable Communities

Priority 6 – Technical assistance

For further information on the rationale behind these and the indicative activities please refer to the ERDF Operational Programme.