Shock Change For EU Funds: Pre-Financing Down From 30% To 10%

07.28.2011 By Mihai Adelina Elena

Those who won EU-financed projects in the last few months will no longer be able to receive 30% pre-financing to start the activities of the project, as was the case for beneficiaries of EU funds so far because pre-financing is now capped at 10% of the project’s eligible costs. So beneficiaries will have to come up with money out of their own pocket for furniture, wages and rent covering the first few months, in order to stick to their activity schedule.

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Keywords:
PREFINANCING
, EU PROJECTS
, FUNDS
, ABSORPTION
, REFUND