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Romania Absorbed EUR1.9B In EU Funds, 10% Of Total Allowance

Romania had absorbed EUR1.9 billion in EU structural funds, excluding agriculture, by the end of 2010, accounting for only 10% of the total funds available for the period 2007-2013, Finance Ministry official Bogdan Dragoi said Wednesday.
Romania Absorbed EUR1.9B In EU Funds, 10% Of Total Allowance
Florin RaduRadu Bostan
23 feb. 2011, 13:40, English

Dragoi said applications had been received for projects worth a total EUR40 billion. Some 7,000 projects, costing an estimated EUR15 billion, have been contracted and 5,000 projects, for around EUR10 billion, have been signed.

The official said the ministry plans to reduce the amount of paperwork in the application, contracting and signing stages. Dragoi admitted that a number of previous recovery plans have not had the desired effect, but said he hopes the steps taken together with the European Commission will allow Romania to meet its goal of attracting 90% of the structural funds by 2015.