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.