EU suspends 1bn euros in funding for Romanian projects

EU suspends 1bn euros in funding for Romanian projects
May 7, 2015 - 17:57 AMT

PanARMENIAN.Net - Romania's Prime Minister says the European Union has suspended 1 billion euros ($1.13 billion) in funding for Romanian projects over allegations of corruption and irregularities, the Associated Press reports.

Prime Minister Victor Ponta says there was "a huge problem" of complaints, which are automatically investigated by Olaf, the body that investigates EU budget fraud.

Ponta said Thursday, May 7, during a meeting with foreign news agencies that "if there is a suspicion about the case, it is stopped ... and we can't ask for money from the EU."

He says if there is no ruling on cases by Dec 31, projects will be funded from the budget. He says the allegations referred to human resources projects, water supply and 400 million-euro ($452 million) subway projects.

Romania has recently launched a crackdown into high-level corruption.

Related links:
AP. EU suspends $1.13 billion in funding for Romanian projects
 Top stories
Armenia dismisses Turkey’s demand to shut down nuclear plant as “inappropriate”Armenia dismisses Turkey’s demand to shut down nuclear plant as “inappropriate”
Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”.
Armenia to loan AMD 2.9 billion to KarabakhArmenia to loan AMD 2.9 billion to Karabakh
Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision.
Azerbaijan opposes Armenia’s plans to build new metallurgical plantAzerbaijan opposes Armenia’s plans to build new metallurgical plant
The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision.
Armenia attracts record amount of foreign direct investments, says MinisterArmenia attracts record amount of foreign direct investments, says Minister
Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion.
Partner news
 Articles
4 rules for business success

An ultimate guide

 Most popular in the section
Armenia's international reserves grew by 8.9% in 2022
IDBank to participate in Career City Fest 2023
Armenia-Iran trade grew 45% in January-October – official
Shell already in Armenia: First fuel stations put into operation
Home
All news
Overview: Economy
Archive for May 7, 2015
Other news in this section
 Latest news
Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia.
U.S. welcomes efforts to define Armenia-Azerbaijan border The United States welcomes efforts to define the border between Armenia and Azerbaijan, says Vedant Patel.
Biden honors resilience of Armenian people on April 24 U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide.
Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan.
---