Article 2 Total Estimated Budget and Financial Contributions to the Programme

2.1 The total budget of the Programme is estimated at EUR 34,223,858, which corresponds to the financial contribution of the Russian Federation, the EU financial contribution and the Member State's financial contribution. Further financing will be provided by the beneficiaries at project level.

2.2 The maximum EU financial contribution to the Programme is set at EUR 16,807,524.

The EU financial contribution to the Programme is provided under the European Neighbourhood Instrument and the European Regional Development Fund.

2.3 The financial contribution of the Russian Federation to the Programme is set at EUR 8,403,762.

The financial contribution of the Russian Federation to the Programme is provided under the Federal Budget of the Russian Federation.

2.4 The maximum financial contribution of the Member State to the Programme is set at EUR 9,012,572.

2.5 The annual breakdown of the Parties' financial contributions is shown in the budget included in the Joint Operational Programme.

2.6 The Russian Federation shall transfer its financial contribution to the Programme through the European Bank for Reconstruction and Development hereinafter referred to as EBRD. The modalities of transfer to the Programme shall be stipulated in an agreement between the Russian Federation and EBRD, in compliance with Article 2 of Annex I (General Conditions).