In the last 30 years, the Cohesion Fund has invested nearly €179 billion in the economic, social and territorial cohesion of the EU. Created in the Maastricht Treaty as a necessary complement to the Single Market in the Cohesion Policy toolkit, the Cohesion Fund was given the mission to support investments in transport infrastructure and in climate and environment protection. Improvement of water supply and waste treatment, energy efficiency, renewable energy and road and rail infrastructure are among its primary targets.

The Fund focus on Member States with a GNI below 90% of the EU average to boost convergence between European economies. Support from the Cohesion Fund, like all funding under Cohesion Policy, have contributed to the rise in national incomes of the beneficiary countries. Ireland and Spain were the first countries that have seen their GNI rise above the eligibility threshold of 90% of the EU average.