The Cohesion Fund in 1998

Summary:

In 1998, the European Union's Cohesion Fund proposed committing the whole of the budget allocated, ECU 2 871 million, to projects in the road infrastructure and environment sectors in Greece, Spain, Ireland and Portugal. In the sixth year of the Fund's operation, commitments for new projects naturally diminished, with appropriations going mainly to projects adopted in previous years; the work of the Fund concentrated on managing and checking these projects. This demonstrates that projects supported by the Fund are progressing well. The Commission's aim is to allocate the assistance available equally between the transport and environment sectors over the period 1993-98.