News

Government gets EU funds for financing energy, transport

Published

July 11, 2015

Comments

0

Share

Published:

July 11, 2015

Comments:

0

Share

Close to EUR 9.5 billion for investments in projects on environment, energy and transport, by means of the Operational Program for Major Infrastructure of Romania (POIM) for 2014–20, was set by the European Commission, its resident office announced.

Under the EU cohesion policy, EUR 23 billion were earmarked for the country. When taking into account the co-funding from the national budget, the programme is worth more than EUR 11.8 billion and it is aimed at the growth of the economy and the creation of jobs, the office explained, as quoted by the Independent Balkans News Agency.

According to a release of the Ministry of European Funds, POIM 2014–20 ensures funding the main development priorities of Romania on the transport sector by an allotment of EUR 6.8 billion (EUR 5.1 billion being contributed by the EU); the environment sector by an allotment of EUR 4.47 billion (3.8 in EU money); and the energy sector by EUR 600 million (EUR 520 million contributed by the EU).

Romania is slated to get EUR 39.8 billion in the current EU’s budget cycle 2014–20, up from EUR 19.8 billion allotted during the 2007–2013 cycle. But the country’s been having difficulties in drawing EU funds, with the European Commission warning early this year Romania’s absorption rate is under 60%, below the EU average by 20 percentage points. This is the final year Romania can still use funds of the previous budget cycle of the European Union.

 

Related Articles

Plastic bag free day and Plastic free July – not only consumers' responsibility

Plastic Bag Free Day, Plastic Free July – not all responsibility is on consumers

03 July 2022 - Recent studies revealed that microplastic pollution is taking on new forms and shapes that threaten human health

coal-power-generation-eu

Fossil fuels returned as top energy source in EU power generation in 2021

01 July 2022 - Among renewable sources, the biggest increase in 2021 was seen in electricity produced from solar energy, 13%,

Floating wind farm project unites fishermen, investors in Ireland

01 July 2022 - A joint 2 GW floating wind farm project is the first cooperation in the world between the two opposing sectors.

Voltalia breaks ground Albania biggest solar park Western Balkans Karavasta

Voltalia breaks ground in Albania for biggest solar park in Western Balkans

01 July 2022 - The site for the Karavasta solar park spans 196 hectares in Fier county in Albania's west. The planned capacity is 140 MW.