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The European Commission is a major funder of economic development activities in both Western and Eastern Europe. In Western Europe, a large proportion of EC funds are spent under local control, with the EC cofinancing actions planned locally using the Structural Funds. To gain access to these funds it is important to have a long term plan and local cofinancing. In Eastern Europe, historically support has been given on a grant basis and the EC has often funded the whole programme and been involved in its design and implementation. This is changing as the rules for the EC Phare programme become more coordinated with those of regional policy, and in the future planning and cofinancing will be more significant. |
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