EU-Structural Funds 2014-2020
The Structural Funds are playing a major role in financing innovative Smart Cities projects during the current period until 2020.
The realisation of Smart Cities measures and, all the way through, the implementation of Smart City concepts in single city-districts, requires significant financial investments. Therefore, an important source of financing investment shares of innovative Smart Cities in the current period 2014-2020 is represented by the Structural Funds (Portfolio consisting of about € 376 billions).
Cohesion and Structural Policy is one of the key policies of the European Union, aiming to foster economic, social and territorial cohesion among the community. Therefore, a special focus is oriented towards underdeveloped regions, where economic growth and employment are promoted.
In the course of the decision-making process STRAT.AT 2020, leading up to the Austrian partnership agreement with the European Commission on Cohesion Policy, the Federal Ministry for Transport, Innovation and Technology together with the Austrian Association of Cities and Towns launched a focus group on “Urban Dimension”. The group’s main aim was to discuss the use of structural funds for Smart Cities measures. This initiative also led to the establishment of the “Smart Cities Platform of Austrian Municipalities”, engaging ever since various highly committed cities across the country.
Since 2018, the consultation process across the EU for programming of the next funding period from 2021 onwards has started.