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Financial absorption and increase in costs in Cohesion Fund projects

Financial absorption and increase in costs in Cohesion Fund projects. Ieva Ozoliņa Ministry of Finance, Project Appraisal Department, Deputy Head of Project Implementation Monitoring Division Riga, 11 April 2008. Absorption of Funding. Disbursement progress. Forecast of disbursements I.

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Financial absorption and increase in costs in Cohesion Fund projects

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  1. Financial absorption and increase in costs in Cohesion Fund projects Ieva OzoliņaMinistry of Finance, Project Appraisal Department, Deputy Head of Project Implementation Monitoring Division Riga, 11 April 2008

  2. Absorption of Funding Managing Authority of the Cohesion Fund – Ministry of Finance

  3. Disbursement progress Managing Authority of the Cohesion Fund – Ministry of Finance

  4. Forecast of disbursements I Managing Authority of the Cohesion Fund – Ministry of Finance

  5. Forecast of disbursements II • In total in the next 3 quarters it is planned to claim from the EC EUR 118M (or 16.6% of total approved funding), including: • 53 millions -for projects in transport sector • 63 millions - for projects in environment sector • 1.1 million – for technical assistance project for the Managing Authority Managing Authority of the Cohesion Fund – Ministry of Finance

  6. Forecast of disbursements III It is planned that declarations of expenditure for 75% of the total funding approved for Latvia will be submitted to the EC until the next Monitoring Committee, including for: - 77% in transport sector - 73% in environment sector - 63% in technical assistance project for the Managing Authority Managing Authority of the Cohesion Fund – Ministry of Finance

  7. Increase in cost I Managing Authority of the Cohesion Fund – Ministry of Finance

  8. Increase in cost II Managing Authority of the Cohesion Fund – Ministry of Finance

  9. Increase in cost III Managing Authority of the Cohesion Fund – Ministry of Finance

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