The European Commission (EC) adopted the 2014 – 2020 Operational Programme for Large Infrastructure in Romania (POIM), announced EC officials. POIM is a major investment package of almost EUR 9.5 billion from EU regional funds. Adding co-financing from the national budget, the program is worth over EUR 11.8 billion to be invested in environmental, energy and transportation projects.
“This investment package, the largest operational program in Romania and the second largest in Europe, will help develop a sustainable and environmentally friendly transport system, will protect environment and increase energy efficiency in the country. The program will strengthen the economic competitiveness of Romania and will bring cities and regions in Romania closer to the European Union. Better railway and road connections will also create new business opportunities, reduce transportation costs of goods and time of travel for all of us,” European Commissioner for Regional Policy, Corina Cretu, said.
The program will implement the Transport Masterplan, Romania’s transport sector strategy for the coming years. The Masterplan is designed to assess specific needs, identify bottlenecks and missing links, and set out clear and achievable objectives for future projects. It aims to improve existing infrastructure, to develop a sustainable and environmentally friendly urban transport network and to complete the TEN-T core network in Romania.
Increasing energy efficiency, protecting natural resources and encouraging risk prevention regarding climate change are the other objectives of the program. It is also designed to support Romania in meeting environmental obligations, particularly with regard to water management and waste.
Between 2014 and 2020, Romania will manage six operational programs under the EU cohesion policy: four programs financed by the European Regional Development Fund and the Cohesion Fund and two programs financed by the European Social Fund, including the youth employment initiative.
Through these programs, Romania has been allocated a total of EUR 23 billion:
- – EUR 15.06 billion for the least developed regions (all except Bucharest);
- – EUR 441.3 million for more developed regions (Bucharest);
- – EUR 6.93 billion from the Cohesion Fund;
- – EUR 453 million for European territorial cooperation;
- – EUR 106 million for the youth employment initiative.
POIM represents almost half of the EUR 23 billion allocated to Romania under the EU cohesion policy.