Financials

(i) The UKF’s approved projects will be financed according to the signed contracts between the users and MSES, in the form approved by UKF Steering Committee. Payments will be carried out on every six months by UKF Secretariat and approved by a member of the UKF Approval Committee.

(ii) The resources planned are based on the 3,7 million EUR reserved for the UKF in STP (74%) plus 1,3 million EUR which is planned from the State budged (26%). The subfinancing expenses are based on the estimation of the average costs of individual grants and their anticipated duration.

(iii) An assessment of development of the programs during next 3 years and their accompanying costs are shown in the Table 2. The numbers of projects within each year are referred to the total number of projects financed in respective year, including the newly approved projects and the projects started in previous years.

(iv) Although the STP is expected to be completed by the end of the 2009, however, some subfinanced projects will continue working during the 5th year. 

Table 2: Development of resources per years 2006-2009