Author: Darya A. Bederak, Sr. Lecturer of Global Economy Dept., Urals State University of Economics

Abstract: The author emphasizes historical stages of the EU Cohesion policy and the key drivers for changes. The evolution of principles of the policy implementation is demonstrated. A close connection between the objectives’ alterations and transformations inside and outside of the EU is indicated. Spatial and thematic allocation of EU funding is characterized The following policy features are determined: growth of the Cohesion policy spending in the EU budget; tendency to simplify the Cohesion policy administration; leading role of the EU supranational government in the policy implementation.

Keywords: European Union, cohesion policy, regional policy, structural funds, cohesion fund