How EU funding works — clearly, step by step

    The world of EU funds looks complex at first glance. In reality, though, most projects go through the same logical cycle. Below we explain it in general terms — so that you know what to expect before you get started.

    What exactly are EU funds?

    EU funds (the European Structural and Investment Funds) are a European Union instrument for reducing disparities between regions and supporting development. In Slovakia, during the 2021–2027 programming period, they are drawn mainly through Program Slovensko (Slovakia's single operational programme, which replaced the original six and is managed by a single Managing Authority). The Recovery and Resilience Plan and other national and European schemes are complementary sources.

    A typical project lifecycle

    1. 1

      Call - the provider announces a call for applications. The call sets out who may apply, for what activities, under what conditions and by what deadline. (Specific calls, amounts and deadlines change continually — which is why we deliberately don't list them here; we're happy to assess the current situation together.)

    2. 2

      Eligibility - the eligibility of the applicant, the eligibility of the activities and the eligibility of the expenditure are checked. This is where it's decided whether it even makes sense to prepare an application. Whether you can secure co-financing is assessed too.

    3. 3

      ŽoNFP (application for a non-repayable financial contribution) - a complete application is prepared, including the project plan, the budget and the mandatory annexes, and is submitted electronically (the ITMS21+ system).

    4. 4

      Evaluation - the application undergoes an administrative check (completeness, eligibility) and an expert assessment (quality, value for money of the expenditure). This step can take several months.

    5. 5

      Implementation - once the application is approved and the contract for the NFP is signed, the project is delivered. This typically involves public procurement, drawing funds through payment requests and ongoing reporting.

    6. 6

      Monitoring and sustainability - after the project ends, monitoring follows, often together with a sustainability period (usually several years) during which the project's results must be maintained.

    Three things worth knowing right at the start

    Co-financing: EU funds usually don't finance a project in full. You cover part of the costs from your own resources.

    Reimbursement: funds are often paid out retrospectively — you pay the expense first, and only then is it reimbursed. You need to factor this into your cash flow.

    Time: from the call to the first money, it usually takes several months to a year. Patience and thorough preparation pay off.

    Not sure which phase you're in? Get in touch.

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