Siemens to develop an IT system to monitor EU funds

Siemens Business Services (SBS) signed a contract with the Central Financial and Contracting Unit at the Finance Ministry to develop an IT monitoring system for structural and cohesion funds, the SITA news wire reported.

The project is covered by the PHARE fund and users will include the Ministry of Construction and Regional Development as a supervisory body for drawing structural funds, the Finance Ministry as the payment body, and mediating bodies and payment units that are involved in the management of EU funds.

Siemens officials claim that the solution will enable state bodies to monitor projects applying for support from EU funds and their financial management in line with the state budget.

Siemens Business Services is a 100 percent subsidiary of the Siemens concern.

Compiled by Beata Balogová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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