The first strand of the Culture programme encourages cultural organisations and operators to work together on cultural and artistic projects.
The thrust of this strand is to help organisations, such as theatres, museums, professional associations, research centres, universities, cultural institutes and public authorities from different countries participating in the programme to cooperate so that different sectors can work together and extend their cultural and artistic reach across borders. Co-operation among cultural organisations receives the largest share of the overall programme budget (approximately 77%).
Multi-annual cooperation projects (lasting over a period of three to five years) seek to lay down multi-annual, trans-national cultural links by encouraging a minimum of six cultural operators from at least six eligible countries to cooperate and work across sectors to develop joint cultural activities over a period of three to five years.EU support for the actions is limited to half of the total eligible cost and is set at a maximum of Euro 500 000 a year.
The funding is intended to help set up or extend the geographical reach of a project and make it sustainable beyond the funding period.
Cooperation measures (projects lasting over a maximum period of two years) concern actions shared by at least three cultural operators, working across sectors, from at least three eligible countries over a maximum period of two years. Actions that seek to develop long-term co-operation are especially targeted.
EU support for the actions is limited to half of the total eligible cost and is set between Euro 50 000 and Euro 200 000.
The application procedure for Strand 2 with deadline 15 September 2010 will be available end of July 2010.

All the information about the application procedure can be accessed here:
http://ec.europa.eu/culture/calls-for-proposals/call2448_en.htm