The final paper proposes and analyzes the starting framework of cohesion policy of Osječko-baranjska County and its current and future development in the areas of smart, sustainable and inclusive growth through opportunities and challenges present in main spheres of Osječko-baranjska County and its institutional framework. After classifying and analyzing the initial framework of the cohesion policy of Osječko-baranjska County, it includes analyzes of demography (demographic tendencies of growth/decline), GDP and its structure, imports, and exports in their current state with a proposal for the long term. It then clarifies the concept of regional competitiveness and regional growth by comparing regional competitiveness with other EU members and highlighting the proposal and conclusion for Osječko-baranjska County, while regional growth as another topic in this chapter will be defined and analyzed through the very purpose of cohesion policy and its capabilities. At the very end, all the possibilities and strengths will be identified using Porter's diamond model where the general goals and visions for the county itself will be explained and the goals and visions will be compared with the current situation and possibilities. Such a comparison will list certain advantages, but also the disadvantages of Osječko-baranjska County, and will explain the possibilities of the observed county related to its regional growth and development. When corroborating personal views, the author will use relevant and official economic and political articles related to the Republic of Croatia and other members of the European Union, and will also use certain publications related to cohesion policy.