Up to 195 billion EUR will be spent by the four SF :
* the European Regional Development Fund (ERDF),
* the European Social Fund (ESF),
* the Guidance Section of the European Agricultural Guidance and Guarantee Fund (EAGGF),
* the Financial Instrument for Fisheries Guidance (FIFG).
 

ERDF
Principal objective of ERDF is to promote economic and social cohesion within the European Union through the reduction of imbalances between regions or social groups.

ESF
This fund is the EU's financial instrument for investing in people. Its mission is to help prevent and combat unemployment, to equip Europe's workforce to face new challenges, and to keep people in touch with the labour market.

EAGGF
This fund contributes to the structural reform of the agricultural sector and to the development of rural areas.

FIFG
This is the specific EU Fund for the Structural reform of the fisheries sector.

The four funds work together to support economic and social development across EU.
 

The Structural Funds concentrate on clearly defined priorities:
  70% of the funding goes to regions whose development is lagging behind (Objective 1);
  11.5% of the funding assists economic and social conversion in areas experiencing structural difficulties  (Objective 2);
  12.3% of the funding promotes the modernisation of training systems and the creation of employment (Objective 3) outside the Objective 1 regions where such measures form part of the strategies for catching up.

There are also four Community Initiatives seeking common solutions to specific problems. They spend 5.35% of the funding for the Structural Funds on:
-  cross-border, transnational and interregional cooperation (Interreg III);
-  sustainable development of cities and declining urban areas (Urban II);
-  rural development through local initiatives (Leader +);
-  combating inequalities and discrimination in access to the labour market (Equal).

There is a special allocation of funds for the adjustment of fisheries structures outside the Objective 1 regions (0.5%).

There are also provisions for innovative actions to promote and experiment with new ideas on development (0.51%).

The Structural Funds finance multi-annual programmes and they act on economic and social structures with the aim to:
* develop infrastructure, such as transport and energy;
* extend telecommunications services;
* help firms and provide training workers;
* disseminate the tools and know-how of the information society.

Development activities financed by the SF must meet the specific needs identified on the ground by regions or member states. All initiatives must respect the environment and promote equal opportunities. Implementation is decentralised, which means that it is usually the responsibility of the national and regional authorities.