90 percent of the projects for attracting EU funds are already signed, says Romanian PM

Newsroom 28/11/2011 | 16:21

The government will attract European funds in value of at least EUR 6 billion next year, based on the fact that approximately 90 percent of the projects have already been signed, having already surpassed the auction stage, said Prime Minister Emil Boc yesterday.

“We are no longer wasting time as before, with evaluations and auctions,” said Boc during a TV show.

The PM announced on Friday that the government aims to reach an absorption rate of EU funds of approximately 20-25 percent.

The situation of Romania’s absorption of European funds has been labeled as ‘dramatic’ by Benoit Nadler, representative of the European Commission, because Romania runs not only the risk of losing the money but also risks not being able to catch up with the other EU states.

The degree of absorption of EU funds in Romania is only 3.5 percent.