||The aim of the thesis is to describe the opportunities and challenges of the Czech Republic as a new member of the EU in context of the regional policy of the EU. An overview of pre-accession financial help and the newly available structural funds´ sources are given, along with the description of the procedures neccesary for the Czech Republic to follow in order to receive the financial support. The second part of the thesis analyzes the region of South Bohemia by course of its current position and further development potential. Special attention is devoted to the absorptive capacity of the region and activities devoted to support its increase. As an example two foreign regions, Burgenland in Austria and Sachsen in Germany, are given and present a potential inspiration of the possibilities for South Bohemia to acquire the newly available financial sources from the EU. The thesis is concluded with a set of recommendations for the South Bohemia region to help it acquire a higher absorptive capacity in order to effectively draw from the available EU funds.