Cohesion policy is the European Union's main investment policy. Every EU region and city benefits from it, and it supports economic growth, job creation, business competitiveness, sustainable development and environmental protection.
Cohesion is a crucial precondition for the success of the single market, which is Europe's greatest asset. Imbalances would lure residents and talented people away from home and leave the more disadvantaged areas falling even further behind, which is why cohesion has always been at the heart of the European project and is one of the eight strategic priorities of the European Investment Bank Group.
The European Investment Bank (EIB) Group, which comprises the European Investment Bank and the European Investment Fund (EIF), committed 36.2 billion euro in 2023 to projects in the poorest regions of the European Union, known as cohesion regions. That is almost half (47%) of the EIB Group's lending and investment in the EU last year. EIB cohesion lending reached 29.8 billion euro in 2023, or 45.1% of total EU financial commitments, exceeding the bank's 42% target and reaching the highest level in the bank's 65-year history.
The third report on the EIB Group's activities in the EU's cohesion regions highlights how targeted support unlocks regional potential and has a direct effect on improving people's lives. It stresses that regional convergence in Europe requires greater social investment and closer mutual cooperation.
The report analyses the EIB Group's activities in cohesion regions in 2023.
with particular emphasis on targeted social investment in the key systemic factors of these regions, such as access to essential services (inclusive healthcare and education, social and affordable housing), digital connectivity and the growth of mid-cap companies and small and medium-sized enterprises (SMEs), with a special focus on women's entrepreneurship and the needs of young people.
The Group's support for economic, social and territorial cohesion is set out in relation to its policy objectives, sectors of activity, countries of operation, its contribution to achieving the UN Sustainable Development Goals (SDGs) and sector-specific project results.
The summary section of the report acknowledges convergence between countries, but notes growing disparity at regional level. It also provides insight into the main obstacles to cohesion and shows how targeted social investment can help unlock regional labour potential. Analysis of individual cases demonstrates the considerable social impact the European Investment Bank Group has achieved through its financial and technical expertise.