Friday, April 3, 2009

Greece to continue funding of development projects in Romania under HiPERB

Bucharest (ANA-MPA/I. Randou) -- Greece will continue to finance development projects in Romania in the context of the Hellenic Plan for the Economic Reconstruction of the Balkans (HiPERB), under which 70.5 million euros have been earmarked for that country, deputy foreign minister Miltiades Varvitsiotis said in Bucharest on Thursday after meetings at the Romanian ministries of economy and foreign affairs.

Through the HiPERB, Greece continued to subsidise five projects (falling under the category major projects/public investments) with 19.5 million euros, Varvitsiotis said, noting that the overall budget for the five projects was approximately 29.5 million euros.

Further, it was announced during the meetings, 19 Greek companies currently active in Romania would receive 10 million euros for the materialisation of investment projects in the neighboring country.

Greece will also assist Romania regarding management of the European funds, mainly in the sector of infrastructures, as Romania is slated to receive 20 billion euros from the EU in the period up to 2013.

The talks further covered matters concerning the trilateral Greece-Romania-Bulgaria cooperation for advancement of the "Black Sea Cooperation" in the framework of the Black Sea Economic Cooperation (BSEC) Organisation.

Varvitsiotis winds up his working visit to Bucharest on Friday.

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