Article 26

Approval and implementation 1. During the implementation of assistance, where a Member State or managing authority envisages the Funds contributing to a major project, it shall inform the Commission in advance and provide the following information: the body to be responsible for implementation; the nature of the investment and a description of it, its financial volume and location; the timetable for implementing the project; a cost-benefit analysis, including financial costs and benefits, a risk assessment and information on the economic viability of the project; plus: in the case of investment in infrastructure: the analysis of the costs and the socio-economic benefits of the project, including an indication of the anticipated rate of use, the foreseeable impact on the development or conversion of the region concerned, and the application of Community rules on public contracting, in the case of investment in production facilities: the analysis of the market prospects in the sector concerned and the anticipated return on the project, the direct and indirect effects on the employment situation, as far as possible in the Community; information allowing an evaluation to be made of the environmental impact and the implementation of the precautionary principle and the principles that preventive action should be taken, that environmental damage should as a priority be rectified at source and that the polluter should pay and compliance with the Community rules on the environment; information needed to assess compliance with competition rules, inter alia rules on State aids; an indication of the influence of the contribution of the Funds on whether the project will be implemented; the financing plan and the total financial resources expected from the contribution of the Funds and any other source of Community finance. 2. The Commission shall appraise the project, consulting the EIB if necessary, in the light of the following factors: the type of investment planned and, where applicable, the revenue expected; the results of the cost-benefit analysis; the result of the evaluation of the impact on the environment; consistency with the priorities in the corresponding assistance; compliance with other Community policies; the expected economic and social benefits, particularly in terms of employment, having regard to the financial resources deployed; the coordination of the financial instruments and the combination of assistance and loans referred to in Article 10(2). 3. Within two months of receipt of the information referred to in paragraph 1 or three months where consultation of the EIB proves necessary, the Commission shall decide to confirm or amend the level of Community assistance. If it considers that the project appears not to justify either part or all of the contribution from the Funds, it may decide to withhold part or all of that contribution, stating the reasons for so doing. CHAPTER VI GLOBAL GRANTS

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Source: EUR-Lex (Cellar) · retrieved 2026-11-08 · Text as adopted (Official Journal); later amendments are not incorporated in this text.