Companies gave up 27m euros in EU funds

3 nov 2010 Autor: Adriana Rosoga

The impossibility of taking out a banking loan that should secure the co-funding part and going beyond the project implementation period stipulated in contracts are the main reasons why 230 firms have given up 26m euros from the EU, according to the data provided by authorities at ZF's request.

"I won two projects, signed them, but I did not go further. The reasons: around 30% we did not have funding sources and 70% we did not have the courage to implement the project any more. Banks are no longer granting loans, and I don't believe the indicators we have now would allow us to get a loan. Funding and the retail market freeze are our main problems," says the representative of a construction firm who gave up funding worth several hundred thousand euros.
In the first axis of the Sectoral Operational Programme on Boosting Economic Competitiveness (POS CCE), 105 funding contracts that asked for over 37m RON (8.8m euros) from the EU were cancelled by mid-October, while through the regional operational programme (POR), 124 funding contracts submitted by micro-enterprises were cancelled, with the total value of non-repayable funding requested through them standing at 78m RON (18.5m euros).