The Slovak parliament passed an amendment to the Act on Aid and Support Provided from EU Funds in fast-tracked procedure on February 29 that establishes a so-called project reservoir as of April, the TASR newswire reported.
Slovakia is facing a realistic risk of failing to draw allocated financial resources from the European Union due to the approaching end of the 2007-2013 programming period and if this happens Slovakia could lose a significant amount of money, TASR wrote.
The provisions of the amendment are designed to significantly reduce the time required for having submitted projects passed by the appropriate government body as well as to decrease the administrative burden linked with the process of their preparation.
In addition the legislation expands the number of organisations authorised to implement large projects under the various Operational Programmes.
Compiled by Zuzana Vilikovská from press reports
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