Romania's 2007-2009 European fund absorption rate exceeds 10%

Romania has absorbed more than 10% of the European grants allocated to it in 2007-2009 that was used for projects worth 8.4 billion euros, the Department for European affairs of the Romanian Government reports, citing from a recent report of the European Commission. In its communication called 'Cohesion policy: Strategic report 2010 on the implementation of the programmes 2007-2013,' the European Commission says Romania has identified reduced administrative efficiency of both management authorities and beneficiaries and ongoing internal reorganisation of the public administration as the main reasons for the delays in accessing the European funds. According to the report, the member states of the European Union say their original commitments to invest in structural change are being realised. Projects are already selected amounting to more than 93 billion euros or 27% of the total financial volume for the period, after approximately 18 months of active implementation.

Source: Agerpres.