The memorandum approved by the Government in its Wednesday meeting refers to the strategy of absorbing non-reimbursable EU funds for the construction of highways in Romania to avoid losing EU funds. The financing source is the Post- 2007-2013 Cohesion Fund (extended to 2015) and the 2014-2020 Cohesion Fund.
The Government also approved Wednesday a memorandum regarding the strategy of absorbing non-reimbursable EU funds for the construction of highways in Romania, having as financing source the European Regional Development Fund for 2014-2020. The memorandum shows that Romania can get EUR1.6 billion, net of VAT, in non-reimbursable EU funds through the new 2014-2020 Large Infrastructure Operational Program and that the roads authority proposed using the money to finance works on the Sibiu-Brasov and Brasov-Bacau highways.