A fund that finances the Common Agricultural Policy (CAP) by providing funding for the Rural Development Programmes (RDPs) of member states. The EAFRD forms part of the EU's general budget. It was created in September 2005 by Council Regulation (EC) 1290/2005 on the financing of the common agricultural policy and came into operation in 2007.

The other fund that finances the CAP is the European Agricultural Guarantee Fund (EAGF).