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High Hopes for 2014-2020 EU Funds
Under the new EU Multiannual Budget Framework, Romania will gain access to a fresh pool of EU Funds. Expectations are high with regard to their absorption rate, as well as to their actual impact on the economy. The new EU Funds will be disbursed according to 11 thematic objectives, focusing on areas such as R&D, IT&C, low carbon economy, renewable energy and transport infrastructures. So far, three of Romania’s eight Operational Programs have been given the green light by Brussels (Competitiveness OP, Technical Assistance OP and Underprivileged Persons OP, which were adopted by the European Commission in late 2014).
Government takes out RON 800 M. (EUR 179 M) loan to speed up payments
The funds were contracted by the Romanian Government from the National Treasury. They are a bridge loan aimed at pumping liquidity to the Management Authorities and speed up payment timeframe for beneficiaries of EU-funded programs currently under implementation. The money, which should be reimbursed in due course by Brussels, constitute the second such loan approved by the Bucharest authorities this year.
Bucharest Approves Danube Transnational Program
Romania has concluded the agreement for the 2014-2020 Danube Transnational Program. This is a financing instrument supporting policies that aim to integrate Danube region policies, facilitating a better regional integration.
EUR 3 Bln. for European students via Erasmus+ Program
The Erasmus+ Master Program will support 200,000 students from across Europe to fund their University and postgraduate studies, until 2020. The European Commission asked the banking sector to grant loans to students registered under this program, providing leverage for the EU-wide effort.
EIB and the Commission Offer Joint Loans to fight climate change
More than EUR 200,000 M. will be made available for investment in energy efficiency, environment protection and combatting climate change under a financing instrument offered by the European Commission and the European Investment Bank.