EU COHESION POLICY. ROMANIA – A MAJOR POTENTIAL RECIPIENT OF FUNDS

The objective of this research paper is to analyze the cohesion policy for regional development of the European Union (EU), with its dynamics, long-term and cyclical determinants, and its recent results and future priorities. Our approach starts with the argumentation of the need for a regional development policy at the EU level, as well as for defining the criteria underlying the allocation of regional investment funds, and highlights Romania's ranking within the regions. The second part examines the EU cohesion policy, alongside its objectives and achievements by domains for 2007-2013. It shows the impact of the global economic and financial crisis on the Cohesion Policy Reform (2014) and the established conditionalities. Finally, the last part outlines the funding priorities of the Cohesion Policy for 2014-2020 based on the EU 2020 Strategy, as well as Romania's position as a main recipient of funds compared with other Member States, and the support measures initiated by the European Commission (DG Regio) for countries with difficulties in accessing funds, including Romania.