The program INTERREG V B MED is a Transnational Cooperation Program which belongs to the European Territorial Cooperation Objective, one of the instruments for the implementation of Cohesion Policy EU. It is funded by the European Regional Development Fund (ERDF/FEDER) with Community aid in the amount of 229,322,525 Euros.
It comprises 57 regions of 10 EU states: Croatia, Cyprus, Spain, France, Greece, Italy, Malta, Portugal and the United Kingdom (Gibraltar), and three candidate states: Albania, Bosnia-Herzegovina and Montenegro.
The MED program mainly aims at facilitation of long-term development of the Mediterranean area, and strengthening of the transnational cooperation between the involved regions and countries, articulating its actions through four thematic objectives: to strengthen the capacity for innovation; to promote the transition to a low carbon economy; to conserve and protect the environment and to improve the Mediterranean Governance.