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Romanian PM Asks Finance Ministry To Analyze Co-Financing Guarantees For All Programs

Romanian Prime Minister Emil Boc asked the Finance Ministry on Wednesday to analyze the possibility to guarantee co-financing for all operational programs, after ministers complained that banks did not send letters of guarantee in time.
Romanian PM Asks Finance Ministry To Analyze Co-Financing Guarantees For All Programs
24 iun. 2009, 17:01, English

The issue was first raised by agriculture minister Ilie Sarbu, who said that several banks had not sent letters of guarantee for the deposit granted by the Ministry as per measure 322 of the National Rural Development Program. Sarbu requested that the agriculture guarantee Fund provide these letters.

Development minister Vasile Blaga said the operational programs carried out by his ministry also face problems with co-financing granted by local public authorities. Blaga asked that the course of action taken in the case of the Agriculture Ministry be followed for all other operational programs as well.

Blaga said the Development Ministry is looking at co-financing on operational programs in the amount of EUR1 billion, while Sarbu said the Agriculture Ministry has already signed contracts worth EUR610 million, and the program will be worth a total EUR1.571 billion by its second stage.

The Romanian Government is discussing on Wednesday a draft emergency ordinance to regulate certain measures to stimulate the absorption of funds allocated through the National Rural Development Program.