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Cohesion policy is the main investment policy of the European Union. It benefits all regions and cities of the Union and promotes economic growth, job creation, business competitiveness, sustainable development and environmental protection.

The European Union supports the achievement of these objectives through the use of the European Structural and Investment Funds (ESF, ERDF, Cohesion Fund, European Agricultural Fund for Rural Development (EAFRD), European Maritime and Fisheries Fund (FEMP)) and, from 2021, the Just Transition Fund (FTJ). These funds are distributed among all the countries of the European Union according to criteria and objectives established in the different Multiannual Financial Frameworks.

The programming of the European Funds 2014-2020 poses new challenges in line with the European economic situation. The Europe 2020 objectives must be integrated into the different funds and each of them must contribute to smart, sustainable and inclusive growth. In this new period, the funds must aim to promote competitiveness and convergence, reorienting spending towards research and innovation, support for SMEs, the quality of teaching and training, the promotion of quality in employment and social cohesion and the transition towards a resource-efficient, low-carbon economy. The execution of FEDER financing in Castile and León is carried out through the FEDER Operational Program of Castile and León 2014-2020, and that of the ESF through the ESF Operational Program of Castile and León 2014-2020.