Submission of investment proposals
Article 4
1. Beneficiary Member States may submit investment proposals to the EIB and the Investment Committee at any time during a calendar year. When submitting investment proposals, beneficiary Member States shall provide information specified in Annex I. The beneficiary Member State shall indicate whether the proposal concerns a priority investment or a non-priority investment. 2. Where an investment concerns a scheme, beneficiary Member State shall submit a proposal in accordance with paragraph 1 and specify the amount requested as the first disbursement for the scheme. After the Commission has decided on the first disbursement to the scheme in accordance with Article 8(1), any subsequent disbursement shall require a separate proposal from the beneficiary Member State specifying the amount to be disbursed and containing the updated information about the scheme, as appropriate. 3. Where the beneficiary Member State submits several investment proposals to be assessed in the same biannual disbursement cycle, it shall indicate a priority order for assessment of priority investments and a priority order for assessment of non-priority investments. If the Member State fails to indicate a priority order, the EIB or, as appropriate, the Investment Committee shall assess the proposals according to the dates of their submission. 4. A proposal concerning a non-priority small-scale project may be submitted only as part of a scheme. 5. The beneficiary Member State shall not request the financing from the resources of the Modernisation Fund of any costs of the investment which are financed by another Union or national instrument.