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May 19, 2022

UniCredit Tiriac Bank: Private sector still has EUR 1 bln worth of structural funds unspent

Over two thirds of the structural funds reserved for the private sector have been already allocated and companies still have about EUR 1 bln unspent funding at their disposal, excluding the money for agriculture and rural development, UniCredit Tiriac Bank European funding co-ordinator Marius Radu said, according to Mediafax. ‘For small enterprises and SMEs in the manufacturing sector, this is the last call. (…) There will still be some residual funds left in 2012, there may also be some supplements or money becoming available as a result of various agreement rescissions, but nothing is quite certain.’ Radu explained. He also pointed out that, out of the EUR 2.1 bln absorbed until the end of H1, two thirds are disbursements to private projects and only one third disbursements to public authorities’ development programmes. ‘I believe we are going to exceed 85 per cent in the private sector in 2015, which is not exactly a good thing,’ Radu added.

On a distinct note, UniCredit Tiriac Bank in H1, 2011, approved co-financing of projects implemented with EU funds in the private sector worth RON 700 M, almost six times more than in the first six months of 2010, European funds co-ordinator Marius Radu also said, according to Money.ro. He further noted that the volume of approved funds in the last three years is over RON 1 bln and that the bank’s strategic priority was ‘the financing of projects implemented with European money.’

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