POS CCE funds, available again to Romania's private sector

EU Commission has decided to eventually resume payments towards Romania through POS CCE (Operational Program 'Increase of Economic Competitiveness') subsequent to measures taken by Romanian Government in that regard in order to comply with the Commission's recommendation. One of them was evaluating in August about 4000 financing requests that have been submitted starting 2011 reads a press release of the Ministry of European Funds. 

'EU Commission's decision on resuming payments through POS CCE is a success of Romania's Government that has taken all necessary measures to correct deficiencies from the past, the 2009-2011 period. POS CCE is one of the most important programs through which Romania benefits from EU funds that support the private sector. Now, when all operational programs are released, our duty is to attract as much money as possible in very short time.' said Eugen Teodorovici, Minister of European Funds. 

POS CCE is one of the three operational programs fully or partially suspended in October 2012, but is the only one that concerns directly the private sector. Its main objective is to improve the Romanian companies' productivity, in accordance with the principle of sustainable development, as well as reducing the disparities compared to the average productivity of EU. By releasing the POS CCE, EU Commission gives Romania a new chance to benefit from the allocated funds (EUR2.5 billion for 2007-2013 period), considering the absorption rate is of only 14.45%. 

'This fall there have been already signed over 500 contracts with beneficiaries from private sector, having a total value exceeding EUR100 million. In the very next period there are going to be signed financing contracts of EUR200 million with same kind of beneficiaries.' added Teodorovici as per the press release in question.