Teodorovici: Romania will reach an 80 percent absorption rate of EU funds in 2014

Romania will improve the absorption of EU funds by next year, Eugen Teodorovici, the Minister of European Funds, anticipating an 80 percent absorption rate allocated as per the financial framework 2007-2013.

“The current financial framework will have us send the European Commission invoices of about 3.5 billion euro, so it will be an amount at least as it was last year, hence we will avoid the risk of losing funds automatically. In 2014 we will get at least 3.5 billion euro, with at least 700 million more than Romania received in 2013. Of course, we will go above the 50 percent threshold. Next year we will end the current financial framework with an absorption rate of at least 80 percent of what Romania was allocated in 2007-2013, that is 19.2 billion euro”,stated Teodorovici during a press conference for launching EU-funded projects.

The Minister also stated that Romania is among the first EU Member States to release funding applications for the following multiannual financial framework from this first year, the launch of opening grant applications being foreseen in October and November 2014.