Romania attracted EUR 5.7 billion in EU funds over the past seven years

Newsroom 03/01/2014 | 15:24

During the 2007-2013 budgetary exercise, Romania managed to attract EUR 5.7 billion in structural and cohesion funds. No highway financed with European funds has yet been finished, according to Mediafax newswire.

At the same time, Poland managed to attract about EUR 6 billion solely for highways.

According to The Ministry of European Funds, Romania’s rate of absorption of structural and cohesion funds is 29.87 percent, representing approximately EUR 5.7 billion, out of EUR 19.21 billion available funds allocated during the 2007- 2013 budgetary exercise.

In mid- 2013, Romania had an absorption rate of 26.2 percent, landing on the last place in a ranking of the European Commission. Bulgaria was ranked second last with a 40 percent absorption rate, and Italy on the third last place with a 40.27 percent absorption rate.

The countries that came first in the ranking were Estonia, Lithuania and Portugal, with absorption rates of 70.95 percent, 70.83 percent and 68.61 percent. Poland landed on the 7th position, with an absorption rate of 59.14 percent.