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90% absorption rate for European funds

Miercuri, 15 noiembrie 2006, 0:00

The cohesion and agriculture funds absorption rate will be 90% and no lower than 85% for other programs, said the Finance Minister Sebastian Vladescu in a press conference on Wednesday. Romania will receive during the following seven years European funds adding up to some 30 billion euros.
At this moment, the PHARE funds absorption rate is 90%, even though the process of obtaining the funds is long and bureaucratic.
The first auctions for contracting post-accession funds will take place only after the operation programs are approved, meaning June or July 2007 the earliest.

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