Romania's PM To Manage EU Project Management Unit Directly

The Romanian Structural Instrument Coordination Authority (ACIS) will be transferred from under the authority of the Finance Ministry to the prime minister, to monitor European fund absorption, Prime Minister Emil Boc announced Wednesday.

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ACIS is the body that manages non-refundable assistance provided by the European Union, including pre-accession, structural and cohesion funds.

The latest letter of intent agreed upon by Romania and the International Monetary Fund says the Government pledges to prioritize programs receiving European funds when selecting new investments and evaluate the profitability of projects contracted by private companies.

It also says the Finance Ministry's EU project management unit (ACIS) will be put under the Prime Minister's authority and empowered to take steps to accelerate fund absorption.

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