Romania has to spend EUR 10 bln in EU funds by 2015, says minister

Newsroom 28/02/2014 | 15:26

The country still has EUR 10 billion in unused EU funds under the 2007-2013 framework that can be put to work in the by the end 2015, said on Friday Eugen Teodorovici, EU funds minister, reports Agerpres newswire.

Teodorovici said Romania has sent last year reimbursement requests amounting to EUR 3.5 billion to the European Commission, the executive arm of the EU. He added the absorption of EU funds stagnated between 2009 and 2011, with the current absorption level at 34 percent.

“2014 is the starting year for the next financial framework, in which Romania has EUR 43 million in allotted funding; the sum may appear to be big at first sight, but when we discuss about priorities the sum is very small. This obliges us once again to allocate funding in areas where Romania has a competitive advantage compared to the region,” said Teodorovici.

The EC has approved last year the N+3 rule for Romania and Slovakia, which gives the two nations more time to spend and claim back EU money, reducing the risk of losing funds.

Ovidiu Posirca