Regional policy is the main investment strategies in the EU within the Cohesion policy of the European Union and is also one of the main policies on which the EU spends one third of its overall budget. The policy is implemented through the European Structural and Investment Fund (ESIF), which consists of five main funds (European Regional Development Fund, Cohesion Fund, European Social Fund and, within it, the Youth Employment Initiative, the European Agricultural Fund for Rural Development and the European Maritime and Fisheries Fund), working together to support economic development in all EU countries. Member States may withdraw funds from the ESI Funds on the basis of projects approved by the Commission but it is important that, at the same time, programs supported by the Structural Funds support the Union more effectively in strengthening competitiveness. The most common forms of financing are grants, capital, loans, guarantees, awards and public contracts and , the most common beneficiaries are companies, young people, farmers, researchers and civil society organizations and non-government organizations. Some of the objectives of the European Union 's Regional Policy are supporting job creation, competitiveness, economic growth, improving the quality of life and sustainable development, thus seeking to reduce the territorial, social and economic imbalances that exist between different regions of the European Union.