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1. The Participating States referred to in Article 1(1) shall make, or arrange for their national funding bodies to make, contributions, whether financial or in kind, of at least EUR 363 million during the period from 1 January 2021 until 31 December 2031. A share of the contributions from the Participating States shall be in the form of financial contributions. The Participating States shall arrange among themselves their collective contributions and how they will deliver them.

2. The contributions from the Participating States shall consist of the following:

(a) financial or in-kind contributions to the implementing activities referred to in Article 6(1); and (b) financial or in-kind contributions to cover all the administrative costs of EURAMET.

3. The financial or in-kind contributions referred to in paragraph 2, point (a), of this Article shall cover the costs incurred by the Participating States in implementing the activities referred to in Article 6(1), point (b), less any direct or indirect Union’s financial contribution to those costs.

4. The financial or in-kind contributions referred to in paragraph 2, point (b), shall cover the costs incurred by the Participating States in relation to the administrative costs of EURAMET for the implementation of the Metrology Partnership. Those administrative costs shall not exceed 5 % of the total budget of the Metrology Partnership.

5. For the purpose of valuing the in-kind contributions referred to in paragraph 2, points (a) and (b), of this Article, the costs shall be determined in accordance with a harmonised approach, including criteria and processes, to be established by the Metrology Partnership Committee in accordance with Article 14. To the extent possible, the reporting of costs shall comply with the reporting procedures laid down in Regulation (EU) 2021/695, while taking into account the usual accounting practices of the Participating States or the national funding bodies concerned, the applicable accounting standards of the Participating State where the national funding bodies concerned are established, and the applicable International Accounting Standards and International Financial Reporting Standards. The costs shall be certified by an independent auditor appointed by the Participating States or the national funding bodies concerned.

6. The contributions from the Participating States shall be made after the adoption of the annual work programme. If the annual work programme is adopted during the reference year, the contributions referred to in paragraph 2, point (b), that are included in the annual work programme may comprise contributions made as from 1 January of that year. The contributions referred to in paragraph 2, point (b), that are made after 1 December 2021 may count as contributions from Participating States, provided that they are included in the Metrology Partnership’s first annual work programme.