ESIF - With a budget of €454 billion for 2014-20, the 5 European structural and investment funds (ESIFs) are the European Union's main investment policy tool. They are: the European Regional Development Fund (ERDF), the European Social Fund (ESF), the Cohesion Fund (CF), the European Agricultural Fund for Rural Development (EAFRD) and the European Maritime & Fisheries Fund (EMFF).