Romania’s current absorption rate of EU funds stands at 45%

The current absorption rate of EU funds (for the 2007-2013 period) amounted to some 45% in Romania as of November 25, according to a statement posted on the Ministry of European Funds’ website. The value of the expenditure statements submitted to the European Commission is of over EUR 8.58 billion. The current absorption rate recorded in the Sectorial Operational Programme for Human Resources Development (POSDRU) was little over 33%, while in the case of the Sectorial Operational Programme fot the Increasing Economic Competitiveness (POSCCE) the absorption rate exceeded 47%. The Romanian government recently approved a new loan from the State Treasury in order to provide managing authorities of operational programmes the necessary resources to pay the beneficiaries of EU funds. “The Romanian government approved a new loan of RON 755 million (EUR 170 million) which will be used to pay the beneficiaries. These amounts, which will be paid to beneficiaries, will be reimbursed to Romania by the European Commission after all the necessary documentation will be submitted,” said the Minister of European Funds, Eugen Teodorovici. The loan will be used to pay beneficiaries of three programmes, namely the Sectorial Operational Programme for Human Resources Development, the Sectorial Operational Programme the Increasing Economic Competitiveness and the Regional Operational Programme. Irina Popescu, irina.popescu@romania-insider.com