Effects of investment funding from regional operational programmes (as illustrated by the ROP of the Podkarpackie voivodeship 2014-2020)

Purpose: The aim of this article is to assess the importance of European Union funds in the development of the regions, with an emphasis on the benefits of obtaining funding under the Regional Operational Programme (ROP) for the Podkarpackie voivodship. Design/methodology/approach: In collecting empirical material for the article, the method of economic and general statistics was used. The temporal scope of the research covers the years 2014-2020, some issues in the field of the effects of cohesion policy support for regional development were shown in the years 2004-2020. The rationale for the location of the research is the peripheral location of the Podkarpackie Voivodeship and the related problems concerning the low level of economic growth and development, the lowest entrepreneurship rate, the low level of income of local governments and residents. Findings: The research has shown that the analysed province has narrowed the gap to the national average, thanks to investments in the development of technical and social infrastructure, renewable energy sources, innovation in enterprises and improvements in the quality of human and social capital. Originality/value: The article presents the use of EU financial resources supporting cohesion policy by the Podkarpackie local government in the form of the Regional Operational Programme 2014-2020 and the effects of the support based on selected indicators, including the author’s absorption indicator.