Convergence
The West Wales and the Valleys region has been awarded the highest level of support (£1.4 billion),
known as Convergence, from the European Union for the new European Structural Funds
programming round 2007–2013.
Convergence is the successor to the Objective 1 programme 2000–2006, and geographically will cover
15 local authority areas in the West Wales and the Valleys region. Map
The Convergence programmes for West Wales and the Valleys comprise funding from two separate
European Structural Funds: the European Regional Development Fund (ERDF) and the European Social
Fund (ESF). Around £856 million of ERDF funds will be channelled through the Welsh Assembly
Government to help progress the region’s transformation into a sustainable and competitive economy
by investing in the knowledge economy and helping new and existing businesses to grow. It will also
focus on regenerating Wales’ most deprived communities, tackling climate change and improving
transport. Some £570 million from the ESF will be used to tackle economic inactivity, increase skills and
employment. Together, the funds will total more than £1.4 billion of Convergence spending, which
combined with match funding, will drive a total investment of £3.2 billion in the West Wales and the Valleys region.
(Source: WEFO)
The main objectives of FP7: Specific programmes
Knowledge lies at the heart of the European Union's Lisbon Strategy to become the "most dynamic competitive knowledge-based economy in the world". The 'knowledge triangle' - research, education and innovation - is a core factor in European efforts to meet the ambitious Lisbon goals. Numerous programmes, initiatives and support measures are carried out at EU level in support of knowledge.
The Seventh Framework Programme (FP7), with a budget of EUR 50,521 million, bundles all research-related EU initiatives together under a common roof playing a crucial role in reaching the goals of growth, competitiveness and employment; along with a new Competitiveness and Innovation Framework Programme (CIP), Education and Training programmes, and Structural and Cohesion Funds for regional convergence and competitiveness. It is also a key pillar for the European Research Area (ERA).
The broad objectives of FP7 have been grouped into four categories: Cooperation, Ideas, People and Capacities. For each type of objective, there is a specific programme corresponding to the main areas of EU research policy. All specific programmes work together to promote and encourage the creation of European poles of (scientific) excellence.
(Source: CORDIS)
For other funding Sources please see the Links section
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