The Financing Agreement of the Karelia CBC Programme has been signed and first projects selected in 2017. According to the Russian legislation, the Federal Assembly of Russia must ratify the Financing Agreement before it can be put into operation. This means that the Managing Authority can not sign the Grant Contracts before the ratification process is finalised.
According to the Ministry of Economic Development of Russia, the ratification of the Financing Agreement is included in the Federal Assembly's spring session's work plan. The spring session ends on July 29th. The Financing Agreement comes into force on the first day of the second month after ratification. Thus, if the ratification takes place in July the first Grant Contracts can be signed in September.
The contracting of the selected applications is taking place at the moment. The aim of the Managing Authority is to prepare everything while waiting for the ratification in order to be ready to sign the contracts as soon as it is possible.
Programme Director Marko Ruokangas, marko.ruokangas[at]kareliacbc.info