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Romania Regional Development Ministry Halts Several Investment Programs Over 10% Budget Cut

Romanian Regional Development and Tourism Minister Elena Udrea said her ministry has halted several investment programs, including the construction of homes via the National Housing Agency ANL, after its budget was cut by 10%.
Romania Regional Development Ministry Halts Several Investment Programs Over 10% Budget Cut
19 aug. 2010, 20:09, English

The programs suspended by the ministry target, among others, the construction of nearly 100,000 homes via the National Housing Agency, of sports halls and county roads of local interest.

Udrea said the thermal rehabilitation program of apartment buildings was also halted. She added, however, that a solution was found in this case, namely, homeowners can take out loans from lender CEC, for a five-year period, and pay only the loan installments, while the interest will be entirely paid by the ministry and the loan will be guaranteed by the state.

Udrea went on saying that investment programs were not the only ones affected by the cut in the ministry’s budget and stressed that salaries and the ministry’s capital expenditure and costs with goods and services were also reduced. The ministry’s budget was reduced by 168.6 million lei (EUR1=RON4.2283) at this year’s first budget revision approved by the Government Wednesday.

Also, Udrea signed Thursday in the city of Botosani, northeastern Romania, five financing contracts, via the Regional Operational Program, for projects worth a total of RON79 million lei, included in the city’s Integrated Urban Development Plan (PIDU).

The programs target the rehabilitation and upgrade of streets, crosswalks and architectural lighting, the modernization of city parks and of an underground parking lot, as well as the mounting of video cameras in the city’s most important areas.