Romanian Transp Minister Wants To Up EU Fund Absorption Rate To 20% In 2011

Romanian Transport Minister Anca Boagiu wants to increase the level of European fund absorption by 16 percentage points, from 4% to 20% by the end of 2011.

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The EU fund absorption rate increased in the last few months from a little over 1% to 4%, or from EUR32 million to EUR113 million, the minister said Monday at a conference on road infrastructure organized by newspaper Ziarul Financiar.

Boagiu stressed the ministry aims to increase the absorption rate to 20% (EUR500 million) by the end of the year.

The minister said she wants to disburse money for projects amounting to EUR2.7 billion and increase the sum to EUR3.6 billion by the end of 2013.

According to Boagiu, 416 kilometers of highway will be constructed by 2012 and 80 kilometers more in 2013. Romania might have about 800 kilometers of highway by the end of 2013.

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