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ECO4 is a term used to refer to the fourth round of the European Community’s Structural Funds, which were allocated to the United Kingdom between 2007 and 2013. These funds were intended to support economic development and reduce disparities across regions in the UK. The total amount of funding allocated to the UK under ECO4 was €11.8 billion.
The UK government was responsible for managing and distributing ECO4 funds within the country. This involved developing operational programs that outlined how the funds would be used, as well as selecting and approving projects that would receive funding. The government also had to ensure that all funded projects complied with EU regulations.
ECO4 funding was distributed across four different funds: the European Regional Development Fund (ERDF), the European Social Fund (ESF), the Cohesion Fund, and the European Agricultural Fund for Rural Development (EAFRD). The ERDF supported projects that aimed to improve infrastructure and promote innovation and competitiveness in businesses. The ESF provided funding for projects that focused on improving education, training, and employment opportunities for individuals. The Cohesion Fund supported projects that aimed to reduce disparities between different regions in terms of infrastructure and environmental quality. Finally, the EAFRD provided funding for rural development projects.
Overall, ECO4 played an important role in supporting economic development and reducing regional disparities in the UK. However, its impact varied across different regions and sectors, and some criticisms have been raised about its effectiveness.
