With the establishment of the European Coal and Steel Community, the European Economic Community and the European Atomic Energy Community in Europe, the process of integration and cooperation between European countries in the field of nuclear energy and agriculture and industrial products has begun. Most importantly, it is the beginning of peace and prosperity for all European citizens. With the increasing expansion and deepening of the Community, there has been cooperation in more and more economic areas, also the introduction of new policies such as social and environmental policies. Today, the European Union, as a community of 27 member states, is a federation that builds its relations through monetary policy, agricultural, cohesion, social and economic policy, protecting the environment, consumers and developing foreign policy. To implement these policies, European Union funds have been established, which generously finance various projects in the Member States and encourage the development and cooperation of Member States. Their funding is mostly focused on the poorest and lagging regions. The largest source of project financing is realized through the European Structural and Investment Funds (ESI Funds) and through the European Union Programs. The ESI Funds are divided into the European Regional Development Fund, the European Social Fund, the Cohesion Fund, the European Agricultural Fund for Rural Development and the European Maritime and Fisheries Fund. The European Regional Development Fund, the European Social Fund and the Cohesion Fund support the achievement of Cohesion Policy objectives, while the European Agricultural Fund for Rural Development and the European Maritime and Fisheries Fund are intended to achieve the objectives of the Common Agricultural Policy. ESI Funds represent the largest part of the European Union budget which are characterized by a decentralized management system. They are intended only for Member States. European Union programs, unlike ESI funds, are characterized by a centralized management system because they are managed by the EU institutions, which are intended for Member States and associated countries that have concluded agreements, ie paid membership fees. In order for Member States to use the funds, they must comply with certain rules and legislative frameworks, while the level of funding for each Member State depends on the amount of gross domestic product (GDP). The organization, decision-making and financial procedures in the European Union are adopted on a multi-annual basis, so we distinguish between the programming and financial periods of the European Union. In each new period, the European Union brings new funds and programs and upgrades existing ones. We are currently in the financial period 2021-2027, preceded by 2014-2020. In this financial period, a budget has been adopted to provide the largest amount of € 1.8 trillion to date to finance Europe's recovery from the economic and social damage caused by the COVID-19 pandemic through Union funds and programs which encourage the transition to a more modern and a more sustainable Europe.