The European Union estimates that, by 2027, 1.3 million new jobs will be created in the Member States through investments amounting to 545 billion euros programmed with cohesion policy. In addition to creating new jobs, funding will increase the EU GDP by an average of 0.5% by the end of the decade, with peaks of 4% in some countries.
These conclusions are contained in the report published by the EU which analyses the results of the programming of cohesion policy for the period 2021-2027.
In the period considered investments of 545 billion euros will be carried out, 378 of which financed by the EU. These investments will foster sustainable socio-economic convergence, territorial cohesion, a social and inclusive Europe and a smooth and equitable green and digital transition.
EU cohesion policy particularly supports research and innovation and helps to reduce the digital divide, including through the modernisation and digitisation of public services (involving 22,500 public administrations) and the digital transformation of businesses. It also supports the development of digital capabilities and infrastructures, including connecting 3.1 million households to high-speed mobile networks and fixed digital infrastructures.
Another area on which cohesion policy operates is the green transition, aimed at reducing the EU greenhouse gas emissions by at least 55% by 2030 and achieving climate neutrality by 2050.
This will be achieved investing in the fields of energy efficiency and renewable energy: for instance, 32 million m² of public buildings and 723,000 households are expected to benefit from improved energy performance and an additional capacity of 9,555 MW will be installed for renewable energy production.
The policy will support the construction of new green infrastructure on an area of 229,000 hectares to support adaptation to climate change and disaster risk management.
Sustainable urban mobility will also be promoted with the construction of 1,230 km of new and modernised tram and metro lines and 12,200 km of cycling infrastructure.
Thanks to cohesion policy investments, 16,4 million people will benefit from a clean water supply and improved wastewater treatment infrastructure.
Nearly 39,000 companies will be supported to join the transition. In particular, more than 5,000 thousand SMEs will benefit from investment in new skills for smart specialisation, industrial transition and entrepreneurship. Up to 120,000 unemployed people will benefit from labour market support measures and nearly 200,000 people will acquire new qualifications.
A slice of investments will regard the transports, with the construction or modernisation of 3,900 km of railway lines of the European net of the transports.