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European Council agrees Multiannual Financial Framework for 2014-2020

On 8 February 2013 the European Council reached agreement on the next multiannual financial framework (MFF), which lays down the EU's budgetary priorities for the years 2014-2020. The approval of the budget by the European Parliament is still pending.

According to the agreement 8.948 billion euros would be available for European Territorial Cooperation during the seven years funding period, thereof 6.627 billion euros for cross-border programmes, 1.822 billion euros for transnational programmes and 500 million for interregional cooperation.

For transnational programmes the total budget would stay almost at the same level as in the current funding period 2007-2013 (1.8 billion euros). Therefore it is expected that also the budget of the Baltic Sea Region Programme 2014-2020 will be of a comparable level as in the current period in which the Programme received 208 million euros ERDF.

Furthermore the MFF defines co-financing rates for different type of programmes. For European Territorial Cooperation programme where at least one less developed region is participating, which applies to the Baltic Sea Region Programme, the co-financing rate can be up to 85%.

For the programmes implementing the 2014-2020 MFF the European Council calls for swift adoption to ensure their timely start from 1 January 2014.

Finally, the European Council urges for programmes that are simpler and mark a clear reduction in administrative burden for public authorities and for beneficiaries.

Details about the agreed multiannual financial framework can be found at

published 18.02.2013