European Funds
As a member of the European Union, Romania benefits from financial aid aimed at fostering the country’s economic and social development.
Among the best-known forms of financing are European funds. These are, in fact, non-reimbursable financial resources for the EU member states. The main role of these financial instruments is to reduce economic and social development disparities among the EU countries.
European funds are jointly managed by the European Commission and each individual member state. In Romania, the main source of financing for Operational Programs aimed at implementing economic and social Cohesion Policy nationwide is the European Structural and Investment Funds, known as ESI funds.
As mentioned earlier, for the 2021–2027 period, the Cohesion Policy has been implemented in Romania, targeting the following areas:
- Social and economic development of cities and regions – financed by the European Regional Development Fund (ERDF);
- Environmental and transport development – supported by the Cohesion Fund (CF);
- Job creation and promotion of equity in society – financed by the European Social Fund Plus (ESF+);
- Development of areas facing social and economic challenges due to climate neutrality – funded by the EU through the Just Transition Fund (JTF).
Additionally, the development of agriculture is funded through direct payments made via the European Agricultural Guarantee Fund (EAGF), while aid for disadvantaged individuals is provided through the Fund for European Aid to the Most Deprived (FEAD).
Up to what age can you access European funds?
According to the European Commission, all EU citizens have the right to apply for European funds, depending on the business or project they wish to implement. It is important to note that the allocation of European funds depends on the financing program and proposed project, and different criteria apply accordingly.
Some of the most common beneficiaries of these funds include:
- Young people;
- Researchers;
- Farmers;
- Enterprises;
- Public bodies: cities and regions;
- NGOs.
For young people, there is a wide range of funding programs, including scholarships or research grants in various fields, funding for young farmers looking to invest in agriculture, or even retraining funding. Most often, these programs are aimed at individuals aged between 13 and 31.
Regarding the age limit for applying and receiving European funds, it is important to mention that, in principle, there is no general age limit for applying, as eligibility depends on the specific nature of the program and the funding criteria established for each initiative.
The European Union offers a wide range of funds and grants, each with its own rules and eligibility requirements, which may or may not include age limits. Therefore, it is essential to consult the specific guidelines of each funding program in order to identify the eligibility criteria, including any potential age-related restrictions.