EU ministers agreed on a fourth partial general approach on the cohesion policy legislative package for the 2014-2020 period. The partial general approach covers the financial management, and the common strategic framework. The purpose of cohesion policy is to reduce disparities between the levels of development of the EU's various regions.

A fourth partial general approach on the cohesion policy legislative package for the 2014-2020 period was agreed by the Council. This partial general approach complements the three partial general approaches agreed on 24 April, 26 June and 16 October, and covers the financial management element, and the common strategic framework. The European Commission adopted a legislative package for cohesion policy for the period from 2014 until 2020 in October 2011.

In particular, the financial management element is aimed at ensuring that EU support under the cohesion policy respects the principle of sound financial management and safeguards the European Union's financial interest. The common strategic framework agreed is about setting up a framework that provides strategic orientation to the programming and the coordination of EU support under the five following regional funds: 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 and Fisheries Fund (EMFF).

The general approach on the cohesion policy legislative package is partial since some elements are excluded. A general approach is a political agreement of the Council pending the adoption of a first-reading position by the European Parliament. Since all four partial general approaches were agreed on the principle that nothing is agreed until everything is agreed they may be subject to change as a result of these other negotiations.