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Romania, unable to co-finance European projects

Romania's financial capacity of ensuring the grant for the co-financing of European projects is not sufficient, Aurel Saramet, head of the National Fund for SME's Credits Assurance (FNGCIMM) said at the South-East European Financial Forum on Wednesday.

Half of the Romanian SME's are willing to apply for European structural funds, which entails a guarantee sum of up to €6 billion ($8.16 billion) whereas Romania's capacity is maximum €2.5 billion. A solution to this problem might be the involvement of the Romanian import/export bank Eximbank, and the change of the guarantee system, according to Saramet. (