Ceiling of state guarantees for drawing structural funds exceeds 2.6 billion lei

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The ceiling of the state guarantees to be given to the local institutions for ensuring the co-financing of structural funds is 2.6 billion lei for 2010, said Minister of Public Finance Sebastian Vladescu on Wednesday.

“The ceiling is 2.6 billion lei for 2010 and the beneficiaries will be the local authorities, the associations for implementing infrastructure projects, universities and research institutions, and the projects range from infrastructure, the environment, energy, education to water supply. The sum of money will be ensured by the guarantee fund according to the first come, first served policy,” said Vladescu.

As for the selection of projects, the Minister of Public Finance said that it would be made by every managing authority. “The applicants that were declared winners go to the guarantee fund where they ask for a guarantee with which they will to the to banking system to get the financing,” added the Minister of Public Finance.

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