Romania sends large volume of projects to EC for financing

Romania sent to the European Commission a large number of projects for financing, in total amount of EUR 640 million, during the last two weeks of 2018, EU Commissioner for regional development Corina Cretu quoted by Ziarul Financiar informed. But the projects of regional hospitals were not among them, she added. Romania reached 26% absorption rate of the EU funds allotted to it, or EUR 8 billion in absolute terms, minister of European funds Rovana Plumb said on January 8 as part of a Government’s press conference. The figure looked impressive compared to the 21% absorption rate as of December 1 officially reported. As regards the three major regional hospitals, the Romanian Government plans to build and finance from the European Budget 2021-2027, when EU funds will cover 85% of the total costs, compared to 50% offered under the 2016-2020 EU budget, health minister Sorina Pintea said in December. “Phasing” the projects, a technical term used for financing a project under two different EU budget periods, indicated that Romania still considers starting the works and asking financing for the projects as soon as possible, though. editor@romania-insider.com (photo source: Pexels.com)