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Financial aspects of grant requests

Every year the Call text defines the indicative annual budget available for specific projects.

The Commission’s contribution to a project will be situated between a minimum and maximum amount, defined in advance. The Commission will determine the amounts of financial assistance to be awarded to individual projects, based on the available budget.

The Community’s financial contribution may never exceed 80 per cent of the total direct eligible costs of the project. Each applicant will therefore have to secure complementary funding from other sources to cover the balance of the project costs.

A minimum of 20 per cent of the total eligible costs must therefore be provided as a cash contribution, either from the applicant organisation and/or partners, or from another donor source. This complementary funding must be secured at the time of the application.

Contributions in kind shall not count as actual project expenditure and shall not constitute eligible costs.

Project funding is based on the principle of shared costs. If the amount awarded by the Commission is lower than the amount requested by the applicant, it is the responsibility of the applicant to find the additional amount required or to reduce the total cost of the project.

An advance payment (pre-financing) of 70 per cent of the Commission’s contribution will be paid within 45 days of the countersignature of the grant agreement. A second pre-financing representing 15% of the amount of the grant awarded upon receipt by the Commission of a progress report, including a financial report evidencing that at least 70% of the previous pre-financing payment has been used up, together with a request for payment. The balance will be paid once the Commission has accepted the final report and financial accounts.

At the time of payment of the balance, the amount granted will be proportionate to the eligible costs of the project and will be reduced proportionally where the total eligible costs turn out to be lower than the total estimated costs.

Sums due shall be paid within no more than forty-five calendar days by the Commission. On expiry of the time-limit, the creditor shall be entitled to late payment interest.

Commission grants are attributed for non-commercial purposes only and projects must be strictly non-profit making.

Selected projects will begin as soon as the grant agreement is signed by both parties. No expenditure is eligible before the starting date of the grant agreement.



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