ECONOMY FINANCE&BANKING

EC to refund over EUR 400 M to Romania

The European Commission will refund in the coming period over 400 million euro to Romania for the Operational Programme Improvement of Economic Competitiveness (POSCCE) 2007 – 2013, after the Ministry of European Funds (MFE) has obtained the agreement of the EU Executive for the resumption of all payments in the framework of the programme, according to a ministry release.
‘The decision of the European Commission to resume payments for POSCCE is a success of the Romanian Government and confirms the effort made as a team by the Management Authority and the intermediary bodies. I expect POSCCE will have the highest absorption rate of all other programmes in the 2007 – 2013 period (over 90%), as in the coming period the European Commission will be able to reimburse to Romania over EUR 400 M for the programme’, said the minister for European funds.
In December 2014 and April 2015, after various EC audits, temporary suspensions of the reimbursements from Brussels to Romania for three axes of the POSCCE. The payments for the priority axes 1 and 4 were resumed on 14 September 2015 and now for axis 3.
‘The beneficiaries of the funds were not affected, as the payments to those who implement projects have been provided from the state budget’, the Ministry for European Funds says.

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