Еligible Beneficiaries And Costs
Projects can be organized as a separate activity within the legal structure of the project initiator or be separated into a company with a special investment purpose (project company).
Within the framework of the projects, the resources of the Fund can be used to finance the eligible types of expenses determined according to the European Regulations for the Structural Funds (“the Regulations”).
Ineligible investments; ineligible expenses
• The creation and development of additional financial instruments, such as risk capital funds, loan capital funds and guarantee funds;
• Investment in projects in any of the sectors or linked to any of the activities specified in Article 1(2) of Regulation (EC) 800/2008, i.e. aid to export-related activities towards third countries or Member States, specifically: aid directly linked to the quantities exported, to the establishment and operation of a export-related distribution network or to the other current expenditure linked to export activity as well as aid contingent upon the use of domestic in preference to imported goods.
• Investments in the fields of: shipbuilding, coal, synthetic fibers and steel industry, as well as fisheries and agriculture;
• Investments in activities / projects for which there is a refund order for state aid granted, issued on the basis of previous decisions of the EC, defining this aid as illegal and incompatible with the market principles of the Community;
• Under the financial instrument, financing is not provided to an enterprise in a “difficult situation”;
• Funding is not provided for projects started before the date of submission of a request for funding by the project sponsor;
• Interest on debt, decommissioning of nuclear power plants and refundable VAT.
The low interest rate on the part of the financing granted by the Fund is considered as providing state aid. In order to ensure compliance with the rules for granting state aid, an opinion from an Independent Expert is required for each project.