EBRD to advise Romania on use of EU funds.

By bne IntelliNews November 22, 2012
The EBRD said it has signed a framework agreement with Romania under which the Bank would provide its expertise to help the country better use the funds allocated by the European Union for energy efficiency and public utilities projects. The EBRD said in a statement it thus joins the EIB and the World Bank in helping Romania to make full and effective use of structural funds. Romania has absorbed less than 10% of the EUR 19bn structural and cohesion funds earmarked by the EU under the 2007-2013 budget and risks to lose a significant part of the total allocations as most of the programmes are under pre-suspension state due to mismanagement. President Traian Basescu has asked the EC to consider the option of giving Romania one more year (until end-2016 instead of end-2015) to drain the money under the 2007-2013 budget. The Commission has not provided an answer yet. The EBRD said it would specifically focus on energy efficiency in public and residential buildings, support for regional water and wastewater treatment companies, support for the preparation of district heating and urban transport strategies, among others.

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