ZF English

EU money has to be used as quickly as possible in order to reboot the economy

26.05.2010, 20:14 5

Romania could lose the bulk of the money allocated for it by theEU unless the fund management authorities and the banksdecentralise the system in order to speed up the absorptionprocess. This was the conclusion of the conference titled "How toget money from the EU? Learn from companies that have receivedEuropean funding" organised by ZF yesterday in Iasi in partnershipwith Banca Transilvania, EximBank, CEC Bank and law firmBostina&Asociatii. This is the latest in a series ofconferences on EU funds organised by ZF in Bucharest, Cluj, andIasi.

"We have to find solutions to get the money moving if we wantthe absorption degree to rise. If we continue to move at this pace,I don't know if we will be able to attract 50% of the amountallocated to Romania by the European Union, because we don't wantto decentralise the system. (...) Everything is overcentralised:from banks through to the fund management authorities. We willstand to gain if we bring the money as close to the beneficiary aspossible," says Constantin Apostol, general manager of theNorth-East Regional Development Agency (ADR Nord-Est), whichmanages around 700 million euros in European funds, allocated forlocal authorities and micro-enterprises via the regional programme.

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