Romania will receive about EUR 480 million worth of EU funds from the European Commission in the next two weeks, said the European Funds Minister Marius Nica.

The amounts, which correspond to the 2007-2013 programming period, are part of the “Human Resources Development” Operational Programme (POSDRU) which has been blocked, due to the Commission’s decision to interrupt the payments. The European Commission has asked the Romanian state to carry out several controls to see how the money was spent. The state has fulfilled its obligation and now will get the money, reports local Wall-street.ro.

The absorption rate of the EU funds will reach about 70% by the end of the year, EU Funds Minister also said. The rate could even amount to 75-80%, Nica added.

At the end of June, the absorption rate stood at 54.4%. The programme with the lowest absorption rate was the one for human resources – POSDRU, which had an absorption rate of 50%, said Nica.

editor@romania-insider.com