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Romania to receive six percent of EU development funds in 2007
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20:52, July 12, 2007

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Romania will this year receive six percent of EU funds allocated for development to member states, European Commissioner Danuta Hubner said here on Thursday.

Funds earmarked for Romania are expected to be channeled into the environment, energy, communication, infrastructure sectors and into personal training, Hubner said during the Conference of Structural and Cohesion Funds for Romania.

Romania and the European Union signed an agreement on the National Strategic Reference Plan, as a reference document for the allocation of Structural and Cohesion Funds.

Under the deal, the EU will set aside 19.67 billion euros (26.75 billion U.S. dollars) from the funds for Romania in the 2007-2013 period.

Hubner said major differences between the economies of member states will exist in the future, but, fortunately, Romania has a high growth potential.

State Secretary with the Ministry of Economy and Finance Sebastian Vladescu said that Romania's challenge will be to catch up with other member states economically.

"Romania can reach the the EU average by 2015," Vladescu said.

Source: Xinhua



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