Abstract:

Regional development is a field often discussed and analysed both theoretically and practically. Reducing the territorial gap is one of the important political objectives of the new and old EU member states. Regional development is an investment process aimed at stimulating and diversifying economic activity, contributing to reducing unemployment and improving the quality of life. The cohesion policy is an important instrument of the EU, whose strategic objective is to decrease economic and social disparities and to sustain the balanced and sustainable development of the member states and regions. This article analyzes the concept of regional development, in its various approaches and the relationship with the structural funds of EU.  Regional economic development is the result of the sustainable use of the economic resources available to a region and is related to the achievement of the desired standard of living in that region. Clearly, there is a direct and positive relationship between the use of structural funds of the European Union and the deepening of regional development, this statement being supported by the analysis of the specialized literature.