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The European Community to cut the amount of financing of Russian programs
27.10.2006 12:22
The European Community to cut the amount of financing of Russian programs

Starting 2007 the European Community cuts the amount of financing of Russian programs, said the head of the press and information department of European Commission Embassy in the RF Sean Carroll.
      According to his words, this change is associated with ceasing of TACIS advisory and technical services and Russian steady economic development amounting to 5-7% annually. Nevertheless, projects set up earlier will be implemented anyway.
      In particular, over a dozen such projects with a general budget of 30million Euro are worked out at the moment or planned to be implemented before 2010 in the Kaliningrad Region.
      TACIS is to be replaced with new EC programs focused on extension of trans-border cooperation and partnership of Russian regions with European neighbors. Up to 100% of European funds may be invested in co-projects in keeping with programs objectives: socioeconomic and near-border development, tourism and ecology. The indispensable condition of cooperation is co-financing taken by the parties.


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