Investitions Bank Schleswig Holstein (IB)  has been appointed to manage the "EUSBSR seed money facility". The total budget of this facility will be around 1.1 M€. An agreement with IB will be signed before the end of this year.

The general idea is that the facility will support projects which total budget is between 30 000 and 50 000€. At least three partners from three different EU Baltic Sea Region countries will have to be involved (in addition, neighbouring countries can also be part of a project provided of course that their participation contributes to the objectives of the Strategy). A coordinating partner from an EU Member State will have to be appointed. It can be a national, regional or local authority as well as a body governed by public law.

The eligible costs will be related to staff, travel, meetings and external experts. The administrative process will be as simple as possible. There will be a continuous submission and assessment of applications, and decisions will be taken four times a year in a written procedure.

A kick-off event is planned for early 2013, but detailed information about the whole process will be available before the end of this year.