Thursday, May 9, 2013

Romanian Government pays European Funds of 1,4 billion lei to Romanian beneficiaries

After Romania has joined the EU in 2007, one of the most problematic issues has been that of the European Funds. Past governments have outdone themselves in having the lowest absorption rate in EU history and lagged behind in payouts toward Romanian beneficiaries (public or private). Now the Ponta Government claims to handle this differently. As one of the first steps the Romanian Government has approved a new loan worth over 1.4 billion LEI, which will allow payments to Romanian beneficiaries, demonstrating once again their commitment to catch up with bills. While facilitating a new loan this will accelerate the absorption as eligible amounts paid to beneficiaries are to be reimbursed by the Commission after sending in the shortest time necessary documents, declared the Romanian Minister for European Funds.

The overall effort toward faster payouts and higher rate of  absorption does not really seem to yet impact the Romanian people. Instead more and more opinions are seem to be that efforts concentrate on attracting Public Funds instead of private ones, or conditions for attracting private funds are very restrictive. Who exactly placed those restrictions, Romanian opinions differ here, the Romanian Government or the EU authorities. What is certain however is that the enormous amounts which were mentioned for last years have never actually reached the country.

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