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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

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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...

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COMMENTS
There are 2 comments:

Rupert Wolfe Murray: on 2010-04-12 11:18:05
Good description of the problems but it is wrong to shift the blame onto the applicants. The real fault lies with the government who have made the application process so complicated that normal companies decide not to apply as doing so involves such long delays that the project would end up losing them money and time. Not only do they need to streamline the system but the government needs to recruit people who are honest and who know how to come with simple solutions -- which is the exact opposite of what Romanians tend to do. All this was predicted in 2006 when the EU consultants tried to advise the ministries how to set up their systems so that this money could be spent, but this advice was consistently ignored by a government that knew better.

David Aldworth: on 2010-04-12 16:42:49
I could not agree more. Romania has not appreciated one of the principles behind the Structural Funds - the more you spend and the quicker you spend it, the more money you are given. The preparations are beginning for the negotiations for the next financial perspective. How can Romania argue for more money in the next round if it has not spent the money it was allocated in this round?

 
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