Non-reimbursable European funds are an important source of financing for central and local authorities, but especially for Romanians who want to open or expand a business. The European Union has prepared the non-refundable funds for the Romanians who need them, they only have to apply for them. The good news for those who want non-reimbursable European funds in 2024 is that in the 2021-2027 EU budget exercise, Romania can receive approximately 4 billion euros through the European Union's Cohesion Policy.

European Regional Development Fund (ERDF) in Romania

The European Regional Development Fund (ERDF) is a key financial tool in the European cohesion policy that was established in 1975. Its primary purpose is to contribute to the reduction of disparities between development levels of European regions and to enhance living standards in the most disadvantaged areas. In the period of 2021-2027, the EU has designated over €392 billion for cohesion policy, with approximately €226 billion being allocated to the ERDF. This amount also includes €9 billion specifically designated for European Territorial Cooperation (ETC) and €1.9 billion as special allocations for outermost and sparsely populated regions.

European Social Fund (ESF) in Romania

The ESF is the main tool through which Europe supports the creation of new jobs, helps people to get better jobs and ensures fairer professional opportunities for all EU citizens.

These funds are intended to invest in Europe's human capital – employees, young people and everyone looking for a job. Every year, the EU allocates €10 billion to improve the employment prospects of millions of Europeans, especially those who find it difficult to find work.

Cohesion Fund (CF) in Romania

The Cohesion Fund was established in 1994 by the European Parliament to provide financial support for environmental projects and trans-European networks in Member States with a gross national income per capita that is less than 90% of the EU average. In the 2021-2027 period, the European Union has allocated 42.6 billion euros for the Cohesion Fund, with 10 billion euros specifically designated for the Mechanism for Interconnecting Europe. Co-financing for projects can cover up to 85% of the total cost. Romania is expected to receive over 4 billion euros from this funding.

According to European officials, these grant funds must be utilized by 2024, with the remaining budget to be used for investments in the environment, including sustainable development and energy, and for trans-European networks in transportation infrastructure (TEN-T). Technical support is also included in the budget.

European Agricultural Fund for Rural Development (EAFRD) in Romania

The Rural Development Program (PAC) is an initiative that contributes to the achievement of the rural development objectives established by the European Union, with the financial support of the European Agricultural Fund for Rural Development (EAFRD). The budget allocated to the EAFRD for the period 2021-2027 is 95.5 billion euros. Of this money, €8.1 billion comes from the NextGenerationEU recovery tool and aims to reduce the impact of the COVID-19 pandemic on the agricultural sector.

Romanians who want non-reimbursable funds in 2024 through this program must know that their projects have the obligation to help fulfill 4 of the 6 EU priorities related to rural development:

• to encourage knowledge transfer and innovation in agriculture, forestry and rural areas;
• to increase the viability and competitiveness of all branches of agriculture and to promote innovative agricultural technologies and sustainable management of the forest fund;
• promote food supply chain organisation, animal welfare and risk management in agriculture;
• promote the efficient use of resources and support the transition to a low-carbon and climate-resilient economy in the agriculture, food and forestry sectors;
• restore, conserve and develop ecosystems that are linked to agriculture and forestry;
• to promote social inclusion, poverty reduction and economic development in rural areas.

European Fisheries and Maritime Affairs Fund (EMFF) in Romania

The FEPAM organization follows the regulations set forth by the Common Fisheries Policy, which aims to ensure the responsible management of European fishing fleets and the protection of fish populations. Recently, the European Parliament approved the European Fisheries and Maritime Fund (EMFF) for the 2021-2027 EU budget. A total of EUR 5.3 billion will be designated for the management of fish farms, aquaculture, and fishing fleets. The remaining funds will be used for scientific guidance, monitoring and enforcement tools, market research, surveillance, and marine safety, as reported by the European Parliament.

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