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Romania Received EUR560M In EU Funds For Rural Development

Romania received the first tranche of European Union funds for rural development worth nearly EUR560 million, namely, a 7% downpayment of the total sum assigned until 2013 to fund projects contracted via the National Rural Development Plan (PNDR).
Romania Received EUR560M In EU Funds For Rural Development
15 aug. 2008, 14:26, English

Romania received the 7% downpayment late last week, which will be used for payments targeting the projects selected for financing, and the grant of subsidies for depressed mountain areas.

The National Payment Agency for Rural Development and Fishing (APDRP) started to sign the contracts and expects all beneficiaries to sign the papers as well, the institution said Friday.

The European Commission thumbed up the Plan on Feb 20 allowing investors to submit projects as of March. However, the financing contracts could only be signed after the Plan was officially approved on July 16.

Moreover, the transfer of the 7% downpayment entailed the official approval of the Plan.

The sums for 2007 could not be spent, as the Plan was not approved in 2008.

Projects are selected for financing based on a scoring grid depending on priorities.

The Plan allows Romania to access EU funds of nearly EUR8 million until 2013, plus the funds assigned from the state budget.

The country’s Ministry of Agriculture plans to use the EU funds to upgrade farms, increase the added value of farming and forest products and develop villages.