Glossary

Lead partner (LP)

Project participant taking the overall responsibility for the development and the implementation of a project. Each Lead Partner is expected to conclude the Partnership Agreement (with its project partners) and the Subsidy Contract (with the Managing Authority), ensure a sound transnational project management as well as the project implementation, an efficient exchange of information among the partnership and with the Programme bodies, and the reception of the reimbursements by the partners in full and as quickly as possible.

Tags : Project partner, Partnership Agreement, Subsidy contract

Leverage effect

Leverage effect is understood as the mechanism allowing a limited amount of initial investment (usually a grant or a loan) to trigger further investments from other actors, and therefore to maximise the result.

Living-lab

A Living Lab is a research method of open innovation aimed at developing new products and services. The approach promotes a co-creation process with the involvement of end users in real conditions and relies on an ecosystem of public-private-citizen partnerships.

Low carbon economy

Low carbon economy refers to an economy that is more climate-friendly and less energy-intensive.

Tags : Sustainable development

Low carbon transport

Sustainable low-carbon transport provides economically viable infrastructure and operation that offers safe and secure access for both persons and goods whilst reducing short and long term negative impacts on the local and global environments.

Reference

Tags : Sustainable development, Multimodal transport

Lump sum

One of the simplified cost options. A lump sum is a total allocation of the grant (calculated ex-ante), paid to the project upon completion of pre-defined terms of agreement on activities and/or outputs. Lump sums involve approximations of costs established based on fair, equitable and verifiable calculation methods.

Reference: COCOF document on simplified cost options (COCOF 09/0025/04-EN) ; Draft Guidance on simplified cost options (EGESIF_14-0017 29/08/2014)