Formally launched in 1988, the EU Cohesion Policy is the main instrument for improving
economic and social cohesion within the European Union. Despite decades-long efforts and
more than one third of the EU’s budget devoted to this policy for the 2014-2020 period, many of
the regions have not converged towards the EU average. What approach should the EU
Cohesion Policy adopt in the 2020-2026 funding period to support lagging regions in the best
way?