Romania's absorption rate for EU funds reaches 6.3%

Romania has used EUR 1.2 billion in European funding so far, representing a 6.3 percent absorption rate of structural and cohesion funds. “Our main objective in 2011 was unblocking the EC reimbursement request process. This was unblocked, but under certain conditions,” said Leonard Orban, the country's European Affairs Minister. Romania contracted 67 percent of the structural and cohesion funds allotted until 2013, which translates as EUR 12.8 billion. Payments to beneficiaries totaled EUR 3.2 billion- some 15.6 percent of the amount allotted between 2007 and 2013. Romania targets a minimum 20 percent real absorption rate for EU funds, which Orban said will be “ambitious, done with great difficulty and only if we continue efforts in this area.” editor@romania-insider.com