The same measure was adopted in the first quarter of the year.
On June 11, 2011, the European Commission stopped payments to Romania through POR after it noted some public procurement irregularities. Following this measure, Romania decided to stop sending bills for EU fund reimbursements to Brussels until the bills were checked and management authorities made financial corrections. Payments for the program were resumed at the end of last year.
In January, the Government allowed the Regional Development Ministry to borrow RON650 million from state funds obtained from privatization and deposited in the Treasury, to make payments within POR in the January-March interval.
According to an official document, the Government is still facing problems with financing POR projects, due to the low level of payment requests that may be sent to Brussels, and will have to borrow money again from the Treasury.
The Government will allow the Development Ministry to take out a Treasury loan amounting to RON750 million, of which RON215 million for payments to be made in April, RON265 million for payments in May and RON270 million for June.
If the sums reimbursed by the Commission are not enough to cover the loan, due to ineligible expenses, the ministry will cover the difference from its own budget.
Through POR, the Government finances transport infrastructure projects, as well as investments aimed to promote the national tourism brand, improve tourism services and support small-sized enterprises. (EUR1=RON4.3791)