European funds are instruments designed to support the implementation of specific European Union policies in its member states. One of the most significant of these is the cohesion policy, for which the European Union has allocated EUR 392 billion for the financial period 2021-2027. In the previous financial period, 2014-2020, EUR 376 billion were allocated for this purpose.

The EU’s cohesion policy is funded through four key instruments:
1. EUROPEAN REGIONAL DEVELOPMENT FUND (ERDF): Aims to strengthen economic and social cohesion within the EU by reducing disparities in the level of development across regions,
2. COHESION FUND (CF): Targets member states with a gross national income per capita below 90% of the EU average, financing projects in the areas of transport and the environment,
3. EUROPEAN SOCIAL FUND PLUS (ESF+): Promotes employment and employment opportunities within the EU,
4. JUST TRANSITION FUND (JFT): Supports people, economies and environments in regions facing significant socioeconomic challenges, particularly in the transition towards a climate-neutral economy.
Additionally, in the 2021-2027 financial period, the following are also available:
5. EUROPEAN AGRICULTURAL FUND FOR RURAL DEVELOPMENT (EAFRD),
6. EUROPEAN MARITIME, FISHERIES AND AQUACULTURE FUND (EMFAF),

Other available funds include the Asylum, Migration and Integration Fund, the Internal Security Fund, and the Instrument for Financial Support for Border Management and Visa Policy.