The Programme Manual (Chapter I. D. i. Cofinancing of operations) states that “The part of the expenses not reimbursed by the Interreg grant (20%) must be financed by each Lead Partner and project partner through a co-financing, which can take the following forms:
– Public co-financing source:
• Own public contribution: national, regional or local public funding provided directly from the public partners own funds or public equivalent;
• Automatic public contribution: national, regional or local public funding, obtained through co-financing mechanisms specifically established by specific Member States (Italy and Greece37);
• Other public contribution: national, regional or local public funding provided by public or public equivalent institutions.
-Private co-financing source:
• Private own contribution: private financing based on the private partners own funds;
• Other private contribution: private funding provided by private institutionsnot involved in the partnership;”
Regarding pre-financing, the Interreg Euro-MED Programme does not provide any advance of funds and operates according to a principle of reimbursement of costs. However, a system of ‘preparation costs’, payable as soon as the Subsidy Contract is signed by both the Lead Partner and the Managing Authority, is available (cf. Manual, chapter II. B. ii. Preparation costs).