1.6 Mio EUR In E.U. Financing For Business Development Projects In Region West

The Regional Development Agency (ADR) - West yesterday announced the conclusion of 16 financing contracts totalling 1.6 million EUR to support the regional and local business environment and to stimulate the development of micro-enterprises. According to a press release from ADR - West, 42 projects have been submitted for financing.

"The financing contracts have been signed for 16 of the 42 projects from the Development Region West that were submitted for financing under Priority Axis 4 - Strengthening the regional and local business environment, Domain of Intervention 4.3 - Supporting the development of micro-enterprises. The other 26 financing contracts have reached various stages of verification, approval or sign-off within the Managing Authority of the Regional Operational Programme. The overall value of the E.U. financing for the 16 projects in Development Region West for which financing contracts have been signed is 1,655,562," the press release indicates.

The estimate allocation for Domain of Intervention 4.3 in Development Region West between 2007 and 2013 is 20.69 million EUR. The estimate financial allocation available for the first request for projects in Development Region West is 4.08 million EUR. The overall value of the 42 projects scheduled for financing within the Regional Operational Programme 2007 - 2013 is 7,685,604 EUR, of which 4,054,954.77 EUR is non-reimbursable.

"The programme has helped micro-enterprises obtain European funding for activities such as the acquisition of modern equipment and technologies, production, services, business setup, IT hardware & software acquisition or production space construction or enlargement," the press release added. Development Region West comprises Counties Arad, Caras Severin, Hunedoara and Timis.