The Operational Programme Knowledge Education Development 2014–2020 is financed from the European Social Fund (ESF) and from a special budget line of the Youth Employment Initiative (YEI). KED budget is over EUR 5,4 bilion from ESF allocation and from the national contribution, including over EUR 252,4 million from a special budget line of the Youth Employment Initiative (YEI).
The allocation of funds for individual priorities:
- Young people on the labour market - EUR 2,035 million
- Effective public policies for the labour market, economy and education - EUR 878 million
- Higher education for economy and development - EUR 1,253 million
- Social innovation and transnational cooperation - EUR 711 million
- Support for healthcare - EUR 357 million
- Technical assistance - EUR 195 million
Means of project financing
A beneficiary whose project was selected for support under the Programme concludes a contract on project co-financing with the competent institution. Contract on project co-financing specifies the amount of support provided for the implementation of the project and the conditions for its implementation.
The agreement or the decision contains in particular the following information:
- the amount of co-financing granted,
- the deadline and means of settling the funding granted,
- method to be used for reporting and settlement,
- sanctions for breaching the provisions of the contract/agreement or decision on co-financing.
Method of financing of a given project depends on the type of the entity using the funding and the specific nature of the project.
According to the general rule, co-financing may cover only the so-called eligible costs. A catalogue of eligible costs is established for each programme and for each type of project. If during the implementation of a project there arises a need to carry out tasks which were not included on the list of eligible costs, such tasks should be financed from beneficiaries’ own funds.
A portion of projects financed under the Programme may require that the entities implementing the programme participate in the covering of its costs by making the so-called own contribution. This principle is applicable to projects involving State aid.
Beneficiaries receive co-financing in the form of:
- a refund – support constitutes a repayment of all or part of expenditure actually incurred by the entity implementing the programme and financed from its own funds,
- advance payment – paid out for planned expenditure.The final settlement is made on the basis of documents indicating actually and appropriately incurred expenditure.
- repayable instruments.