Structural funds are at present the most important tool of the structural policy of the European Union, aimed at ensuring comprehensive and harmonious development of the whole Union, as well as increasing the economic and social integrity of the member states and EU regions. During the present budget period running from 2000 to 2006 the Structural Funds should realise the following detailed objectives: Objective 1: Supporting the development and structural adjustments of underdeveloped regions Objective 2: Supporting the economic and social convergence of regions undergoing structural difficulties Objective 3: Assistance during adaptation and modernisation of politics, education systems, professional training and employment. These funds currently use up over a half of the whole EU budget. Over 90% of the money is allocated to financing national projects, submitted by appropriate authorities of the member states; the rest is allocated to Union initiatives - programmes realised all over the EU. The budget of the structural funds for 2000-2006 was set to 253 bln Euro.