The European Commission approves the new multi-sectoral framework on regional aid for large investment projects

"The new Multisectoral Framework for large investment projects"* On 13 February 2002, the European Commission approved a major reform to establish a faster, simpler and more accountable control system of Government support to large investments in the EU [1]. The so-called ‘Multisectoral Framework on regional aid for large investment projects’ will create greater transparency and reduce the overall level of subsidies granted in the European Union, to the benefit of a healthy competition and taxpayers alike. The new Framework will enter into force on 1 January 2004; for the motor vehicle and the synthetic fibres sector it will enter into force already on 1 January 2003. Both aspects, i.e.increased transparency and a significant aid reduction, are in line with the conclusions of the

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Adolfo Barbera Del Rosal, The European Commission approves the new multi-sectoral framework on regional aid for large investment projects, 13 February 2002, e-Competitions Bulletin February 2002, Art. N° 36958

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