4.

Where the assistance concerned entails the financing of revenue-generating investments, the contribution from the Funds to these investments shall be determined in the light of their intrinsic characteristics, including the size of the gross self-financing margin which would normally be expected for the class of investments concerned in the light of the macro-economic circumstances in which the investments are to be implemented, and without there being any increase in the national budget effort as a result of the contribution by the Funds. In any event, the contribution of the Funds shall be subject to the following ceilings: in the case of investment in infrastructure generating substantial net revenue, the contribution may not exceed: 40 % of the total eligible cost in the regions covered by Objective 1, which may be increased by not more than an extra 10 % in the Member States covered by the Cohesion Fund; 25 % of the total eligible cost in the areas covered by Objective 2; these rates may be increased by an amount for forms of finance other than direct assistance, provided that this increase does not exceed 10 % of the total eligible cost; in the case of investments in firms, the contribution may not exceed: 35 % of the total eligible cost in the regions covered by Objective 1; 15 % of the total eligible cost in the areas covered by Objective 2; in the case of investments in small and medium-sized undertakings, these rates may be increased by an amount for forms of finance other than direct assistance, provided that this increase does not exceed 10 % of the total eligible cost.

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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.