More than in any other way, the diversity of the European Union is shown in its many regions. Alongside the rich spectrum of cultures in the EU, we also face different levels of economic development, within the Union and within individual Member States. Our regional policy programmes and funds aim to bridge disparities of prosperity and development, to the benefit of all. Each region needs its own tailor-made solution. The key to finding the best formula in each case, will be partnership with many actors, optimising the impact of €50 billion European funds a year, in combination with local, regional, national and private budgets. In today's challenging economic conditions, the EU's regional policy must deliver tangible results and above all, the creation of jobs. In our ever more interconnected world, achieving growth in one region will lead to new employment in another. In the end, regional investment means European progress. My job is to put European regional policy at the heart or our efforts for economic recovery and long term prosperity under our EU 2020 strategy. The aim is a better life for Europeans everywhere: from the most densely populated cities, to the deepest countryside and the remotest islands.