Digital Transformation and EU Funding as Drivers of Smart Regional Convergence – Study Case on Romania

As it was expected, the COVID-19 pandemic, alongside the social impact and the economic disruptions, has also intensified the already existing regional disparities, highlighting, once more, the urgent need for innovative recovery strategies, in the current environment of glocalization. Therefore, the present study aims to explore the role of digitalization and European Union financial support schemes and programs, while identifying their joint contribution in reducing the economic and social inequalities across administrative and development regions, particularly in Romania. Digital technologies have always played a significant role in maintaining business procedures and operations, enabling new business practices, such as remote work and digital business models, and in the expanded accessibility of essential services. At the same time, EU’s structural and cohesion funds have provided vital financial resources for businesses and governments for supporting and improving their digital infrastructure, entrepreneurship culture and environment, and for enhancing more social inclusion initiatives. Through analyzing the available data, the present research paper examines the synergy between the digital transformation efforts and the EU-funded programs that aimed to foster the balance between regional development. The study also highlights the best practices, key challenges, and lessons learned from successfully implementing the projects that combined technological development with strategic financial investment.