BUSINESS

Risk of losing PHARE, ISPA and SAPARD funds persists

Romania risks losing the pre-accession PHARE, ISPA and SAPARD funds because of delays registered by some projects, and needs to hasten the fund absorption procedures, Premier Emil Boc stated yesterday. He pointed out that the talks with the local authorities from the Arges and Suceava Counties, talks that took place on Wednesday during the Government meeting, focused on the absorption of EU funds. ‘The talks have to do with three main components: first of all the absorption of EU funds and the projects’ current status, secondly the public investments in infrastructure and in other domains, investments coming from both central and County or local sources, and thirdly the status of the pre-accession PHARE, SAPARD and ISPA funds that register delays because of which Romania risks losing these financial resources’ Boc stated at the start of the Government meeting. The Prime Minister asked the local authorities to make sure that the fund tapping procedures, including in the agricultural sector, will observe the deadlines.

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