Romania can spend EUR 3.11 bn EU funds unused in 2014 until 2017, EU Council decides. European Parliament approval still needed

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The EU Council has approved on Tuesday the bring forward to 2015-2017 of an amount of EUR 3.11 billion in funds allocated to Romania from the EU budget through the Multiannual Financial Framework (MFF), not spent by the country last year, according to the revised EU budget.
Romania has made commitments last year EU-funded projects totalling EUR 3.98 billion, of which EUR 3.11 billion remained unused funds which will be transferred for projects to be initiated during 2015-2017, a release issued after the approval by the EU Council of the budget Review 2014-2020.
Certain EU budgetary commitments not used in 2014 will still be available to support investment to stimulate growth and create jobs in the years 2015-2017, the release reads. This is what the Council decided on 21 April 2015 by revising the EU’s multiannual financial framework (MFF) for 2014-2020.
“I am truly glad that we were able to adopt the revision. With this revision we have met all preconditions that the allocated resources can be used to their full extent and thus to ensure a smooth implementation of programmes supporting growth and jobs”, said Edgars Rink?vi?s, the Latvian Minister for Foreign Affairs and President of the EU Council.
The revised MFF allows the transfer of EUR 21.1 billion of unused commitments for certain funds from 2014 to subsequent years. EUR 16.5 billion can be transferred to 2015, EUR 4.5 billion to 2016 and the remaining EUR 0.1 billion to 2017.
The Council on 21 April 2015 also accepted draft amending budget no 2 for 2015 which incorporates commitments of EUR 16.5 billion unused in 2014 into the 2015 EU budget.
The decisions taken by the Council keep the total expenditure ceilings for the period 2014-2020 unchanged and involve no additional money.
Certain commitments remained unused in 2014 due to the late adoption of 300 out of the nearly 650 EU programmes under shared management. Commitments are legal promises to spend money on activities whose implementation can extend over several financial years.
The programmes concerned are supported by the structural funds, the cohesion fund, the European agricultural fund for rural development, the European maritime and fisheries fund, the asylum, migration and integration fund and the internal security fund, the release further reads.
Draft amending budget 2/2015 still requires the approval of the European Parliament before being adopted.
Romania benefits from European funds worth about EUR 43 billion for 2014-2020, of which over EUR 22 billion is allocated for cohesion policy. For 2007-2013, Romania had a total allocation of EUR 33.5 billion.

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