Article 3 Total Estimated Budget and Financial Contributions to the Cooperation Programme

(1) The total budget of the Cooperation Programme is estimated at EUR 349 807 007.

(2) The maximum EU financial contribution to the Cooperation Programme is set at EUR 272 630 658.

The financial contribution of the EU to the Cooperation Programme is provided under the European Regional and Development Fund (hereafter referred to as "ERDF") of EUR 263 830 658 and the ENI of EUR 8 800 000, whereof a maximum amount of EUR 4 400 000 will be spent for the participation of Russian beneficiaries in the Russian Federation and also for the technical assistance of the Cooperation Programme.

(3) The financial contribution of the Russian Federation to the Cooperation Programme is set at EUR 4 400 000 and is provided under the Federal Budget of the Russian Federation. This also includes an amount of EUR 344 960 for technical assistance of the Cooperation Programme.

(4) An amount of EUR 264 000 out of the EUR 4 400 000 of the financial contribution of the ENI and an amount of EUR 88 000 as national co-financing out of the EUR 4 400 000 of the financial contribution of the Russian Federation to the Cooperation Programme shall be used for the technical assistance budget of the Cooperation Programme.

(5) The breakdown of the financial contributions to the Cooperation Programme is shown in the financing plan included in the Cooperation Programme document.

(6) Following the signature of this Agreement, the Managing Authority shall send the requests for the transfer of the financial contributions of the Russian Federation to the Russian National Authority and to the Ministry of Finance of the Russian Federation. The Ministry of Finance of the Russian Federation shall transfer after each request within 90 days its financial contribution to the Cooperation Programme through the European Bank for Reconstruction and Development acting as a financial agent in three annual payments:

- In 2017, EUR 1 500 000.

- In 2018, EUR 1 500 000.

- In 2019, EUR 1 400 000.

(7) Any interest gained on the account of the national contribution of the Russian Federation as well as on the Cooperation Programme's ENI account will be regarded as resource of the Cooperation Programme. The Monitoring Committee shall decide upon the use of the interest income for the benefit of the Cooperation Programme.