Cohesion Fund proposal
A Commission proposal for a Council Regulation (EEC) establishing a Cohesion Fund (COM(92) 339) was submitted by the Commission on 7 September 1992. The aim of the Fund is to contribute to the strengthening of the economic and social cohesion of the Community by providing financial contributions to projects in the fields of environment and of transport (trans-European networks). Beneficiaries shall be Member States with a per capita GNP of less than 90% of the Community average which have a programme leading to the fulfilment of the conditions of economic convergence as set out in Article 104c (budgetary deficits) of the Treaty on European Union. It is proposed that the Fund may provide support for: - Environmental projects contributing to the achievement of the objectives of Article 130r of the Treaty (objectives of common policy on the environment), including projects resulting from measures adopted pursuant to Article 130s of the Treaty (Council decisions on actions to be taken by the Community to achieve Article 130r objectives); - Transport infrastructure projects contributing to the achievement of the objectives of Article 129b (trans-European networks), including projects resulting from the guidelines adopted pursuant to Article 129c of the Treaty (Community guidelines, interoperability, financial support, cooperation with third countries): - Preparatory studies and technical support measures related to eligible measures. For the period 1993-1997 the total commitment of appropriations deemed necessary for the Fund shall be ECU 10,000 million at 1992 prices. The appropriation for 1993 shall amount to ECU 1,500 million. For each subsequent year an annual increase of ECU 250 million shall be made, resulting in 1997 in a figure of ECU 2500 million at 1992 prices. The proposed rate of assistance is to be 85-90% of public or similar expenditure as defined for the purposes of the Structural Funds. Preparatory studies and technical support measures necessary for the implementation of eligible projects may be financed at 100%.