Annual report of the Cohesion Fund 1995

Summary:

The Cohesion Fund report for 1995 is the first to cover the activities of a whole calendar year. The operations carried out between 1 April 1993 and 26 May 1994 were covered by a separate report on the cohesion financial instrument, which was set up pending the ratification of the Maastricht Treaty. The Cohesion Fund operations from 27 May 1994 to end-1994 were the subject of a supplement to that report; a consolidated version of these reports covering 1993-94 was issued in 1995.

This first full annual report also reflects the fact that at the end of 1995 the Cohesion Fund is a fully operational instrument to promote economic and social cohesion. Experience has been very satisfactory in terms of implementation of both the budget and projects on the ground. Efficient and adequate procedures have now been put in place in order to assure the preparation, implementation and monitoring of projects, facilitate exchanges between Member States and the Commission and help clarify and resolve and problems which occur.

This report has been drafted to serve as the main source of information for Cohesion Fund activities in 1995 and will be distributed appropriately.