Within the guidelines defined by the Regional Government, the responsibilities of the Regional Cohesion Fund include:
a) Helping to define and implement development policies for the economy;
b) Providing financial support for the supply of essential goods and services to the populations of the different islands;
c) Promoting and providing financial support for the installation and equipping of storage facilities for essential goods, particularly fuels, on islands where, due to their size and market conditions, these investments are not economically viable;
d) Providing financial support for the public inter-island passenger and goods air and maritime transport service and infrastructures, namely aerodromes, air terminals and ports;
e) Providing financial support and implementing contract programmes for the promotion of tourism aimed at external markets and involving public and private partnerships;
f) Collaborating with other bodies to define and implement pricing policies;
g) Managing the processing and payment of financial support allocated under regional and national incentive schemes which are the responsibility of the government department for the economy;
h) Cooperating with other public or private bodies on development and economic cohesion within the region;
i) Cooperating with other bodies, specifically in the area of financial aid, in building and renovating infrastructures relevant to development and economic cohesion.
The Regional Cohesion Fund is managed by a Governing Board consisting of a Chair and two other members.