Financial Assistance

The new instrument for Pre-Accession Assistance (IPA), covering all financial support to candidate and potential candidate countries, came into effect on 1 January 2007.  This instrument replaces the pre-accession financial instruments in place between 2000 and 2006: PHARE, ISPA, SAPARD, the Turkish pre-accession instrument, and CARDS, the financial instrument for the Western Balkans.

IPA comprises five components:

• Transition assistance and institution-building
• Cross-border co-operation
• Regional development
• Human resources development
• Rural development

Post-accession assistance to the 10 new Member States that joined the EU in May 2004 was provided until end-2006 through a transition facility, implemented under the Extended Decentralised Implementation System (EDIS); contracting of funds is expected to continue until 2008 and payment of funds until 2009. For the two newest EU Members Bulgaria and Romania, a transition facility providing financial assistance, set up in January 2007, is being implemented under EDIS.

For more information on financial assistance, consult the Europa website.