Proposal for revision of the TENs Financial Assistance Regulation
The European Commission has adopted a proposal for a revision of the trans-European networks (TENs) Financial Assistance Regulation. This regulation applies to all the trans-European networks projects which may receive funding from the Commission (transport, telecommunications and energy). During discussions with the TENs Financial Assistance Committee in November 1997, both the Commission and the Member States were of the opinion that the Regulation could be improved in a number of respects. The main thrust of the proposed changes is as follows: - Introducing the concept of multi-annual programmes which would operate in addition to financing individual projects and would ensure greater coordination between the TENs financial instruments; - Changes to the form of financial assistance in order to allow the Commission to undertake studies of an overall strategic nature; - Removal of the five-year limitation with regard to interest rate subsidies, therefore allowing subsidies beyond the construction period; - Allowing Community support in the form of grants and venture capital for TENs projects, which is viewed as necessary if TENs projects are to be developed as public-private partnerships (PPPs); - Include the principle that in a situation where public funding will be limited, recourse to PPPs may be sought; - Increasing the present limit on Community funding from 10% to 20% in cases where the benefits of projects accrue mainly to other Member States or projects with an important environmental dimension; - Amendment to take the Sound and Efficient Management programme (SEM 2000) into account; - Alignment of information and publicity practice with that of the Structural Funds and Cohesion Fund. The revised Regulation, once adopted, would apply for the next EU financial framework - from 2000 until 2006.