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In order to promote its overall harmonious development, the Union shall develop and pursue its
action leading to the strengthening of its economic, social and territorial cohesion.
In particular, the Union shall aim at reducing disparities between the levels of development of the
various regions and the backwardness of the least favoured regions.
Among the regions concerned, particular attention shall be paid to rural areas, areas affected by
industrial transition, and regions which suffer from severe and permanent natural or demographic
handicaps such as the northernmost regions with very low population density and island,
crossborder and mountain regions.
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Member States shall conduct their economic policies and shall coordinate them in such a way as, in
addition, to attain the objectives set out in Article III-220. The formulation and implementation of
the Union's policies and action and the implementation of the internal market shall take into account
those objectives and shall contribute to their achievement. The Union shall also support the
achievement of these objectives by the action it takes through the Structural Funds (European
Agricultural Guidance and Guarantee Fund, Guidance Section; European Social Fund; European
Regional Development Fund), the European Investment Bank and the other existing financial
instruments.
The Commission shall submit a report to the European Parliament, the Council, the Committee of
the Regions and the Economic and Social Committee every three years on the progress made towards
achieving economic, social and territorial cohesion and on the manner in which the various means
provided for in this Article have contributed to it. This report shall, if necessary, be accompanied by
appropriate proposals.
European laws or framework laws may establish any specific measure outside the Funds, without
prejudice to measures adopted within the framework of the Union's other policies. They shall be
adopted after consultation of the Committee of the Regions and the Economic and
Social Committee.
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The European Regional Development Fund is intended to help to redress the main regional
imbalances in the Union through participation in the development and structural adjustment of
regions whose development is lagging behind and in the conversion of declining industrial regions.
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1. Without prejudice to article III-224, European laws shall define the tasks, the priority objectives
and the organisation of the structural funds, which may involve grouping the Funds, the general rules
applicable to them and the provisions necessary to ensure their effectiveness and the coordination of
the Funds with one another and with the other existing Financial Instruments.
A Cohesion Fund set up by a European law shall provide a financial contribution to projects in the
fields of environment and transEuropean networks in the area of transport infrastructure.
In all cases, such European laws shall be adopted after consultation of the Committee of the Regions
and the Economic and Social Committee.
2. The first provisions on the Structural Funds and the Cohesion Fund to be adopted following
those in force on the date on which the Treaty establishing a Constitution for Europe is signed shall
be established by a European law of the Council. The Council shall act unanimously after obtaining
the consent of the European Parliament.
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European laws shall establish implementing measures relating to the European Regional
Development Fund. Such laws shall be adopted after consultation of the Committee of the Regions
and the Economic and Social Committee.
With regard to the European Agricultural Guidance and Guarantee Fund, Guidance Section, and the
European Social Fund, Articles III-231 and III-219(3) respectively shall apply.
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