Absorption rate of European funds up to 66 pc in April

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The current absorption rate of European funds has reached 66.06%, on April 11, up from 65.8% in March, Secretary of State with the Ministry for European Funds (MFE) Laurentiu Stelea said on Monday during the conference ‘The role of banks in accessing European funds’.

According to him, if transactions in progress are added, the absorption rate reaches 80%.

Laurențiu Stelea said that between the authorities implementing structural instruments and banks there was a good working relationship, which led to a better understanding of the types of funded projects and of the funding needs of potential beneficiaries.

“I believe the pressure will come from the programs that address SMEs, and I believe ‘Regional Development’, through the Regional Operational Programme, is very attractive,” Laurențiu Stelea said.

The MFE representative added that another active sector in accessing European Funds is agriculture.

According to a survey conducted by BankingNews the most active four banks financing the projects run with European funds, namely BCR, CEC Bank, Banca Transilvania and UniCredit Bank have granted so far loans worth EUR 5 billion for projects developed with European Union money, the funding during the last year totalling over EUR 820 million.

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