TNC Planning
Preparing a cooperation project
Negotiating the financial aspects of a cooperation project
Financial aspects of TNC projects are quite unique since they combine:
- Different budgets from partners located in different areas / different Member States / different countries where legal requirements may not all be the same (not just the currency);
- Different levels of intervention, (local expenses incurred by each partner as well as shared expenditures related to the whole partnership); and
- Different financial sources which each have specific requirements.
Clarifying financial issues at the beginning of a project, and involving financial partners at an early stage, enables the partners to anticipate difficulties and find ways to overcome them in advance.
The first questions to be answered are:
- What is the total budget of the project – including costs and contributions from different sources, and what is the budget for each partner?
- What part of the budget is for local activities and what part is devoted to common activities?
- How is the project budget split between the different actions?
This information should be in your application form. You might have to re-organise your own versions of this information to fit with the application form requirements.
Reaching common agreements about the project budget is an important step in the preparatory phases, and will help ensure transparency throughout the project implementation phase.
