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EBRD official: European fund absorption in Romania could increase by involving commercial banks

The absorption of European funds in Romania could be improved by improving access procedures and by boosting the participation of private commercial banks, Director of the Romania Office of the European Bank for Reconstruction and Development (EBRD) Claudia Pendred told Agerpres on Tuesday.

'There is obviously a huge potential for increasing the absorption in Romania of European funds, because only 13 percent of the funds available for 2007-2013 has been accessed and the actual absorption rate after advance payments is even lower,' said Pendred.

She mentioned that a report released last month by the Vienna Initiative indicates that the involvement of private banks could boost the absorption of European funds and capitalise on the private banks' expertise in the corporate sector and the initiatives to identify new entrepreneurial means and financial instruments.

'This method could ease off pressure on co-financing that has faced the public sector, especially in a time of budgetary consolidation, as it happened in Romania,' said Pendred.

She added that there are signs increasingly more favourable in the Romanian economy and, although a new recession is not ruled out, it is still improbable, since the Romanian economy is expected to record modest growth this year and a more dynamic medium-term growth. At the same time, she said, a decline is expected in inflation in the second part of the year as a result of the tight monetary policy of the National Bank of Romania.

Sursa: http://www.actmedia.eu

Tags: romania banks could european absorption

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