FINANCING AGREEMENT
BETWEEN THE GOVERNMENT OF THE RUSSIAN FEDERATION AND THE EUROPEAN COMMUNITY ON FINANCING AND IMPLEMENTING THE CROSS BORDER COOPERATION PROGRAMME "ESTONIA - LATVIA - RUSSIA"

Having regard to the Partnership and Cooperation Agreement of 24 June 1994, establishing a partnership between the Russian Federation, on the one part, and the European Communities and their Member States, on the other part, the Government of the Russian Federation (hereinafter, "Russian Party") and the European Community (hereinafter, "the Community") represented by the Commission of the European Communities, in common called further the "Parties", have agreed on the following:

ARTICLE 1

SCOPE OF THE AGREEMENT

This Agreement defines the modalities of co-financing and implementation of the cross-border cooperation programme "Estonia - Latvia - Russia" carried out in border regions of the Russian Federation and Member States of the Community to address issues in social and economic sphere, hereinafter called "Programme". The specification of the Programme is presented in a Joint Operational Programme Document that is Annex I to this Agreement.

ARTICLE 2

PROGRAMME MANAGEMENT AUTHORITIES

1. The Programme management authorities are: the Joint Managing Authority and the Joint Monitoring Committee.