Council Regulation establishing a cohesion financial instrument for environment and trans-Europenan transport infrastructure networks
The European Council has adopted a Regulation (EEC No 792/93 of 30 March 1993) establishing a cohesion financial instrument whereby the Community shall provide financial contributions to projects in the fields of the environment and trans-European transport infrastructure networks in those Member States which have a per capita GNP of less than 90% of the community average (i.e. Greece, Spain, Ireland and Portugal). This financial instrument may provide assistance for environmental projects, transport infrastructure projects of common interest and preparatory studies, in particular prior appraisals and analysis of costs and benefits, and technical support measures related to eligible projects. Applications for assistance shall be submitted by the beneficiary Member State for projects of sufficient scale to have a significant impact in the field of environmental protection or in the improvement of trans-European transport infrastructure networks. The amounts available for commitment appropriations shall be ECU 1500 million in 1993 and ECU 1759 million in 1994 (expressed in 1992 prices). The Regulation enters into force on 1 April 1993.