The global financial crisis from 2008 onwards resulted in a significant economic downturn as well as new and intensified social challenges in many European countries and regions. This impact hit European regions asymmetrically leaving some countries and regions with substantial challenges in their economic recovery, but not all.

EU Cohesion Policy contributes to the Europe 2020 Strategy and the Territorial Agenda. Investments in regions and cities all over Europe shall support and stimulate an intelligent, sustainable and inclusive growth of the Union. The ambition is to ensure and enhance European competitiveness in a rapidly changing and connecting world.