absorption

Romanian Minister for European Affairs Leonard Orban said Thursday he wants Romania to reach a European fund absorption rate of at least 20% by the end of 2012.

Romanian Prime Minister Emil Boc on Saturday warned that faulty auctions and conflicts of interest among local authorities can impair the absorption of European funds and called for transparency and responsibility.

Romanian President Traian Basescu and Prime Minister Emil Boc on Thursday discussed creating a Ministry of European Affairs, to manage projects financed with European Union funds, led by UNPR president Marian Sarbu or former EU commissioner Leonard Orban, people close to the matter told MEDIAFAX.

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.

Romanian Prime Minister Emil Boc on Tuesday said he is displeased with Romania’s low absorption rate of European Union funds, which, he stressed, might prevent Romania from using all EU grants at its disposal in 2010.

Romanian Environment Minister Laszlo Borbely on Sunday said Romania is among the first European Union countries in terms of large infrastructure contracts concluded, and among the last EU countries by absorption of EU funds upon concluding contracts, on lack of high project management procedures.