If my project is selected, what can I expect in terms of co-financing payments?

As soon as the agreement has been signed by both parties, a first tranche of 25% of the grant amount will be paid,after any conditions precedent have been lifted. Payment of a second installments of 50% of the grant amount will be madeon the basis of a technical report demonstrating achievement or progress in achieving the indicators andconditionalities,and a financial report justifying the expenditure actually incurred corresponding to half the total budget. The balanceof up to 25% will be paid on the basis of a final technical and financial report demonstrating the results of the project and justifying the expenditure actually incurred corresponding to the fulĺ of the budget. Payment of the balance is capped at the expenses actually incurred.