Enterprise Estonia (EAS) has in the last seven years reclaimed 6.4 million euros of grant money which makes up 0.7 percent of the support paid out during the same period.
“In the 2007-2013 period EAS satisfied support applications in the amount of 874 million euros and recalled grants in the amount of 6.4 million euros. For the whole period reclaimed grants make up 0.7 percent of the disbursed support and implemented activities,” EAS board member Taavi Laur said.
Last year the business support agency made 151 grant recall decisions in the amount of 2.7 million euros which cover both support schemes and programs, i.e. the entire activity of EAS, Laur said.
“The nearer the end of the period, the more recalls there are. This is natural, because at the beginning of the period the amounts were smaller in terms of both grants and auditing,” Laur said. The administration and control system of EAS received the highest evaluation without a single reservation in the course of the recent system audit, which means that it meets the principal requirements, he added.
Established in 2000, EAS promotes business and regional policy in Estonia and is one of the largest institutions within the national support system for entrepreneurship. After Estonia joined the European Union EAS became one of the final beneficiaries of EU structural funds in Estonia.
Source: Estonian Review