Undertaking

Entity engaged in an economic activity, regardless of its legal status ownership, the way it is financed and whether its aim is to make profit or not.
In the framework of the Interreg MED Programme, economics operators are able to be direct beneficiaries of aid as partners in projects (not as Lead partners) under the General Block Exemption Regulation, or de minimis regime.

Tags: Staite aid; De minimis

Urban cluster

Urban clusters are clusters of contiguous grid cells of 1km² with a density of at least 300 inhabitants per km² and a minimum population of 5000.

Tags: Rural area; Remote area

Value added tax (VAT)

A type of consumption tax that is placed on a product whenever value is added at a stage of production and at final sale. Only VAT which is non-recoverable under national VAT legislation may be an eligible expenditure.

Value for money

Term referring to judgement on whether sufficient impact is being achieved for the money spent.

Ref: Reference

Verification

Concerning multi-module projects, at the end of each module, the MA/JS will perform a verification of the activities carried out and the deliverables produced by the project in order to check their compliance with the requirements established and to pass to the next module.

Tags: Assessment; Evaluation