EU helps Romania use more cohesion funds for infrastructure projects

The European Commission revised the terms of the Large Infrastructure Operational Programme (LIOP) for Romania and will co-finance 85%, compared to 75% until now, of the value of the projects carried by the country in the areas of trans-European transport infrastructure (TEN-T), subway infrastructure and multi-modal transport, according to a press release of the European Commission quoted by Ziarul Financiar. This comes to help, among other, the port operators that can develop freight terminals, logistics areas and major railway infrastructure, according to the press release. It will not result in more funds earmarked for Romania but will help the country absorb the money allotted to it already for large infrastructure projects: EUR 9.2 billion, out of the total of EUR 22 billion cohesion funds earmarked by the European Commission from the EU budget for Romania under the 2014-2020 financial framework. As of December 1, 2018, Romania sent to the European Commission EUR 1.35 billion worth of invoices under LIOP, out of which the EC disbursed already EUR 1.21 billion, plus nearly EUR 0.6 billion as payments in advance. This puts the current absorption rate at under 15%. Romania targets 25% EU funds absorption rate by end-2018 editor@romania-insider.com