The Government of Romania approved on July 6 a Memorandum of Understanding with the European Investment Bank (EIB), a document that regulates the provision of consultancy by the EIB to Romanian authorities for the implementation of European-funded projects in the 2021-2027 programming period, Bursa reported.

From 2014-2020, Romania benefited from technical assistance through Memorandum of Understanding signed with the EIB, the World Bank and the European Bank for Reconstruction and Development.

The rate of absorption of European funds achieved by Romania as of end-2021 was 59%, far from 73%-74% in Hungary or Poland.

The new memorandum signed by the Government for purchasing consultancy from EIB will include support for the management of closing the Operational Programs financed within the 2014-2020 programming period.

(Photo: Marian Vejcik/ Dreamstime)

andrei@romania-insider.com