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High absorption degree of EU funds in Romania

The absorption degree of the pre-accession funds in Romania is good, although not a spectacular one, said Radu Limpede, Partner of the Initial Advisory European fund consultancy company, quoted by Business standard daily.

The Initial Advisory official said that the absorption rate of EU funds is 95 percent within the SAPARD program and 85 percent within PHARE program and 50 percent within ISPA. It is most likely to have a maximum absorption by 2010, if this pace continues in the coming two years, said Limpede.

Eugen Teodorovici, Secretary of State in the Ministry of Finance, said that 320 million euros in European funds entered Romania in 2008, as part of the ISPA program. He pointed out that Romania also absorbed the money Bulgarians failed to access and another 55 million euros, in unspent funds by some other states. Under these conditions, Romania reached an absorption degree of 50 percent of a total of two billion euros contracted for 388 road and rail infrastructure and environment projects.

The State secretary also said that in 2009 and 2010 Romania must absorb 500 million euros, each year, in order to spend all the ISPA contracted money.

According to the European Commissioner for Regional Policies Danuta Hubner, in October, Bulgaria's ISPA fund absorption stood at approximately 329 million euros of a total contracted of 1.5 billion euros and Romania reported on October 1 an amount of 887 million euros of a total contracted funds of approximately 2 billion euros.

Referring to the structural funds, Eugen Teodorovici underlined that, till December 15, a number of 5,740 projects were submitted on the six operational programmes, in value of 35.4 billion lei (approximately 9 billion euros), of which a number of 299 projects in the value of 8.13 billion lei (approximately 2 billion euros) already approved. Of this amount 5.47 billion lei (some 1.47 billion euros) represent EU allocated funds.

For more than half the approved projects financing contracts have been concluded with beneficiaries, namely in the case of 185 projects in the value of 6.19 billion lei (approximately 1.58 billion euros), of which 4.46 billion lei (approximately 1.14 billion euros) in EU funds.

The representative of the Finance Ministry and the national coordinator of non-repayable financial assistance appreciated that, till next year-end, at least 60 percent of the total value of EU financing on the seven operational programmes (19.7 billion euros) must be contracted in order to attain the maximum absorption degree in 2013.

According to the Finance Ministry data, small and medium-sized enterprises (SMEs) did not contract in 2008 EU funds despite having 20 approved projects of the 2,615 submitted within the Operational Programme - Economic Competitiveness, but next year it is expected to conclude financing contracts with beneficiaries.

Within the Regional Operational Programme the highest number of financing contracts were concluded, namely 35, in the value of 1.12 billion lei (approximately 286 million euros), of which 203 million euros represent EU funds.

 

Sursa: http://www.rompress.ro

Tags: euros billion funds contracted approximately value projects million degree romania percent within absorption

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