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| The Absorption of EU Funds |
| (2012-09-19) |
| Last updated: 2012-09-20 14:42 EET |
The European Commission will apply financial corrections to Romania after certain irregularities were reported in the process of EU fund absorption in the 2007-2011 period. The Ministry of European Affairs announced the regional, environment, transport and competitiveness sectors are targeted. The enforcement of corrections was the prerequisite the Commission demanded in order to give green light to certain programmes after identifying irregularities in the public procurement process.
These corrections, which may amount to a certain percentage of the allotted funds, are to be negotiated with the Romanian side for each individual programme. The Minister of European Affairs Leonard Orban said the money will, in effect, be used to finance other projects:
Leonard Orban: “Financial corrections translate as corrections that are applied following an incorrect or partially incorrect activity. The money isn’t lost. It can be used to finance other projects. On the other hand, funding is cut off in the case of projects were irregularities were reported”.
The Romanian official also said new projects would be needed in order to re-channel these funds.
Leonard Orban: “There will be a number of new projects, although we must bear in mind that many advanced projects could not receive funding simply because there was no funding available. So I don’t see why we shouldn’t be able to identify as quickly as possible the areas which can absorb this money”.
Minister Orban also told us the arguments he will use in the negotiations with European officials:
Leonard Orban: “The only arguments that can still convince the Commission to lower the percentage of financial corrections is to provide clear evidence of having carried out audits of all the projects in question, or at least a large number of them. Moreover, we have to prove that the problems we have identified are limited or quantifiable and that the sums involved are lower than those proposed by the European Commission as financial corrections”.
Prime Minister Victor Ponta said he would set up a task force at Government level charged with reviewing Romania’s priorities for the EU budget in the 2014-2020 period and the official standpoint of the Romanian side at the negotiations table. The announcement follows after official statistics pointed to an absorption rate below 10%, which is tantamount to refunds of some 1.8 billion euros of the total of 19 billion euros made available to Romania in the 2007-2014 timeframe.
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