Romanian Government approved a new loan of RON 1.42 billion to pay European Funds beneficiaries

The Romanian Government approved, in the meeting on January 14, 2015, a new loan from the State Treasury, from privatisation income, in order to make available for the Managing Authorities the necessary amounts to pay the reimbursement applications and payment requests submitted by the beneficiaries.

“The loan approved today, in amount of RON 1.42 billion, represents a real support for the implementation of EU-funded projects, as the Managing Authorities for the operational programmes will have the necessary resources to reimburse the expenses incurred by beneficiaries. These amounts which will be paid to the beneficiaries will be reimbursed to Romania by the European Commission, after the necessary documents have been submitted. The current Government has consistently supported the implementation of European projects by approving the necessary amounts for payments to the beneficiaries. In 2013 and 2014, the current Government approved loans in total amount of about RON 15.5 billion for the payment of expenses incurred under projects implemented with structural and cohesion funds. Due to this consistent support for project implementation, the current absorption rate of structural and cohesion funds reached about 52% at the end of 2014”, declared Eugen Teodorovici, Minister of European Funds.

The new loan will support payments for the beneficiaries under three programmes: Sectoral Operational Programme Human Resources Development (SOP HRD), Sectoral Operational Programme Increase of Economic Competitiveness (SOP IEC) and Regional Operational Programme (ROP).

The amount of RON 560 million was allocated for payments to SOP HRD beneficiaries. At the same time, the amount of RON 460 million was allocated for payments to reimburse the expenses incurred by SOP IEC beneficiaries and the amount of RON 400 million for payments to ROP beneficiaries.

Source: Ministry of European Funds