Romania will receive EUR 260m more from the EC to speed up projects
Romania will receive this year a supplementary advance of 260 million euros to speed up the projects based on European funds and the total amount obtained since 2007 will stand at 1.95 billion euros, announced the European Commission today.
The country has so far proposed the commission to finance over 4,000 projects, 224 of which, concerned with increasing the economic competitiveness, regional development, environment protection and transportation investments, have already been approved.
The EC also received plans for 13 major projects, nine of which were approved and this year is expected to bring 70 more such proposals.
To get more money besides advances, Romania must set up high quality administration and control systems that meet the European rules. The commission has already green lighted three of the five conformity evaluation reports and the fourth should be signed soon.
Romania was granted 19.7 billion euros as part of the cohesion policy for the 2007-2013 interval. Before accessing the EU, the country got some 2 billion euros to finance several transportation and environment projects. The absorption rate rose by 50 percent in 2008 versus 2007.