This document outlines the proposed reforms to the European Community's structural funds. It details the rationale behind these changes, focusing on improving the efficiency and effectiveness of these funds in supporting regional development and economic convergence across member states. The text addresses the operational mechanisms and policy objectives intended to guide the allocation and utilization of these financial instruments.

This publication is understood to be a technical document from the Commission of the European Communities, likely intended for policymakers, administrators, and stakeholders involved in regional development and EU funding. Its focus on reform suggests it addresses a period of significant policy evolution within the European Community. The reception would typically be measured by its influence on subsequent legislation and the practical application of the proposed reforms by member states and EU institutions.