Feasibility
Assessment on whether the project objectives can be really achieved.
Feasibility Study
A feasibility study, conducted during the Formulation Phase, verifies whether the proposed project is well-founded, and is likely to meet the needs of its intended target groups / beneficiaries. The study should design the project in full operational detail, taking account of all policy, technical, economic, financial, institutional, management, environmental, socio-cultural, gender-related aspects. The study will provide the European Commission and partner government with sufficient information to justify acceptance, modifications or rejection of the proposed project for further financing.
Financing Agreement
A legally binding document signed between the European Commission and the beneficiary country following a Financing Decision. It includes a description of the particular project or programme to be funded. It represents the formal commitment of the European Union and the beneficiary country to finance the measures described. This document is used in the framework of CARDS, PHARE, SAPARD and IPA.
Framework Agreement
The general rules and conditions, governing the cooperation of the European Commission with the beneficiary country concerned. It is the legal basis for the implementation of all EU assistance operations in that country.