Romania paid EUR 420 mln in financial corrections for EU-funded program

The European Commisison, the executive arm of the EU, got EUR 420 million from Romanian for financial corrections under the human resources operational program (POSDRU) that ran between  2007 and 2013, said the minister of EU funds, Cristian Ghinea.

The absorption rate of funds under POSDRU was the lowest out of all programs. It amounted to EUR 1.72 billion, meaning that the country has used only 49.68 percent of the total funds.

For the current programming period, which runs through to 2020, the authorities are planning to roll ut a new system for the management and control of the projects. The Ministry of EU funds said this will also cut some of the red tape.

„I am expecting to see simplified and coherent procedures so as to eliminate overlapping responsibilities. In addition, I will try to avoid some of the mistakes that were made in the previous programming period and to change the approach from process to impact and results,” said Ghinea.

The management authorities for EU funds haven’t gone through the assigning procedure yet, which means that Romania can’t ask for the reimbursement of products under the current programming period.

Read more about

Alexandrion Group is looking for a suitable location in Japan to build a distillery that will produce Japanese single malt whisky

read more

Ovidiu Posirca