This study is an ex post evaluation of the management and implementation of the Cohesion Fund (including former ISPA) in 2000-06. The study had the overarching objective of assessing the building-up of management capacity to deliver ISPA and Cohesion Fund projects in the 14 countries benefiting most from the Cohesion Fund and ISPA in the 2000-06 period. Capacity-building support has been long term and multi-layered. Technical Assistance approvals cover a broad spectrum, allowing an adaptive use of resources. The benefits of capacity-building support are diffuse and cumulative. The impact of experience on capacity is evident in a number of areas, including: administrative structures culture; tools and procedures; managerial, technical and financial skills; the decentralisation of responsibilities; and better coordination. Important steps have already been taken to improve the performance of the CF delivery system, such as flexibility in the period for eligible expenditure and in the context of the 2007-13 Regulations. In the context of the post-2013 reform of Cohesion policy, there is an opportunity to review procedures for the Cohesion Fund in the light of the reduced risk that exists in the post-enlargement environment, and as a result of the experience accumulated since 2000.