engleski

Absorption capacities for EU funds

Joining the European Union opens considerable funding opportunities which include substantially higher EU budget allocation. Since Croatia is joining the EU six months before the end of current financial perspective (2007-2013 period) it will benefit from an allocation in amount of EUR 800.2 million. Out of this amount EUR 449.4 million is envisaged from the structural funds and Cohesion fund while in the new financial perspective (2014- 2020) EUR 1.6 billion will be available for Croatia. Compare to level of pre-accession assistance it presents substantial increase. An adequate absorption capacity and financial management system of EU funds is needed in order to obtain full utilisation of the allocated post-accession assistance. Economic theory suggested that absorption capacity is seen as a set of limits to an effective use of aid flows and that, among other elements, depends on disbursement constraint. It is particular evident when it is case of EU funds. Experience with implementation of EU funds in other countries, especially Central and Eastern European (CEE) has shown that the absorption capacity to generate real impact through the EU financial resources depends on the efficiency of the state administration, municipalities as well as other stakeholders (private sector, NGOs etc.). This is conditioned by the availability to implement a complex policy- making process of programming, management, implementation, monitoring and evaluation of EU funds.

financial assistance, absorption capacity, pre-accession programs

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