european funds

Romania's EU fund management authorities and the Ministry of European Affairs should be able to look up and compare the prices of similar projects, because in some instances the difference between them is considerable, said Radu Gratian Ghetea, president of CEC Bank.

Romania's European fund absorption continues to be the lowest in Central and Eastern Europe (CEE), with especially low payment ratios recorded for transport and environmental programs, according to a study compiled by consultancy firm KPMG.

Romanian Tourism and Regional Development Ministry secretary of state Barna Tanczos said Wednesday that co-financing has become the country's main problem in absorbing European funds.

Romanian Prime Minister Emil Boc said Wednesday during a visit to Sibiu, central Romania, the country will attract EUR4.3 billion in European funds this year, adding the money could help economy out of the recession.