Local development held back by EU fund absorption delay
Romania’s absorption of EU funds is running at less than eight per cent of the available cash - and is holding up massive investments in regional infrastructure. Report by Ana Maria Nitoi April 2010 - From the Print Edition
Romania is running out of time to spend up to 20 billion Euro in European Union structural funds for a deadline of 2013.
Currently the country’s rate of absorption of EU funds is less than eight per cent of the cash available.
“The absorption rate of EU funds is too low,” says Matthias Kollatz-Ahnen, vice president at the European Investment Bank (EIB). “If this will not see a significant increase very soon, then the implementation of the projects financed with structural funds will fa... To continue reading this article you have to be registered
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