The European Parliament adopted a report by Jan OLBRYCHT (EPP-ED, PL) and approved the Council’s common position. It should be noted that this regulation is part of the Structural Funds package for 2007 to 2013. (Please also see COD/2004/0167, AVC/2004/0163 and AVC/2004/0166.) The package defines the objectives, the financial resources available and the criteria for their allocation in an enlarged EU. Approximately EUR 308 billion - or 35.7 per cent of the total EU budget - will be available to spend, as scheduled, from 1 January 2007.
As part of the deal on the financial perspective, MEPs secured a further EUR 300 million extra for territorial cohesion. The House supported the idea that EUR 200 million should be allocated to the trans-national area and the remaining EUR 100 million should be given to inter-regional cooperation.