Proposal for a Council Regulation (EC) amending Regulation (EC) No.1164/94 establishing a Cohesion Fund

Summary:

The Cohesion Fund was established by Article 130d of the Treaty of Maastricht. It was preceded by the provisional cohesion financial instrument, and was set up in May 1994 by a Council Regulation on which the assent of the Parliament had been obtained.

Since then the Fund has provided broadly equal amounts of finance for projects in the fields of trans-European transport networks and the environment. It has raised the level of implementation of environmental Directives in the beneficiary countries and improved the position of trans-European networks and access to them. The four beneficiary countries have made progress in terms of real convergence but so far none has reached the threshold of a GNP of at least 90% of the Community average laid down by the Protocol on Economic and Social Cohesion annexed to the Treaty.

In Agenda 2000, the Commission accordingly argued for the Fund to continue.

This proposal for a Regulation, together with a proposal to amend Annex II to the current Regulation, is made in accordance with Article 16 of the Regulation.

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