At the EU-Russia Summit today Commissioner for External Relations and European Neighbourhood Policy, Benita Ferrero-Waldner and the Russian Minister for Regional Development, Viktor Basargin, signed the Financing Agreements for five cross-border co-operation programmes (CBC). These financing agreements are central to the implementation of cooperation programmes between the border regions of the European Union and Russia. The programmes have a total budget of approximately €437 million until 2013, and are funded by different sources: European Commission (€267 mio), Member States (€67 mio) and the Russian Federation (€103 mio). The co-financing by the Russian Federation confirms the spirit of partnership at the core of the European Neighbourhood and Partnership Instrument (ENPI).

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The innovative character of this kind of cooperation lies in its balanced partnership: for the first time partner countries and EU member states apply a single set of implementing rules, share one single budget and take decisions together within a common management structure. Common needs are identified by local partners on both sides of the border for activities that are most relevant to their local situation, creating an approach from the bottom and according to real needs.

The programmes involving Russia are:

• "Kolarctic-Russia" (Sweden Finland, Norway, Russia) - €70.48 mio

• "Karelia-Russia" (Finland, Russia) - €46.40 mio

• "South East Finland-Russia" (Finland, Russia) - €72.36 mio

• "Estonia-Latvia-Russia" - €73.08 mio

• "Lithuania-Poland-Russia" (the Kaliningrad programme) - €176.13 mio