The European Commission to consider our demand for 5% co-financing of EU projects

Bulgaria is the first country in the European Union, which signed memoranda of understanding for technical assistance in the absorption of EU funds with the World Bank and the European Investment Bank.

“At least 10 countries in Europe will repeat our approach,” said Prime Minister Boyko Borissov at the official inking of the documents yesterday. Minister for EU Funds Management, Tomislav Donchev endorsed the memoranda from the Bulgarian side. The ceremony was attended by Prime Minister Boyko Borissov, ambassadors of EU member-states and Minister of Regional Development and Public Works Liliana Pavlova and Minister of Transport, Information Technology and Communication Ivaylo Moscovski, who are in.charge of  the management of the structural instruments  in Bulgaria.

 A similar document is being prepared with the European Bank for Reconstruction and Development (EBRD) as well. "Thus, the Bulgarian Government, the European Commission and the three international financial institutions have set up a strong team dealing with the absorption of EU funds," said Jan Fisher, Deputy President of EBRD.

“The European Commission will discuss the issue of reducing the state co-financing of EU projects to 5% instead of the actual 20%,” stated European Commissioner for Regional Policy Johannes Hahn after signing the memoranda of understanding between the Government and the financial institutions.

Borissov brought up the matter before German Chancellor Angela Merkel during his official visit to Germany with a government delegation a few days ago.

Commissioner Hahn stated that he believed this is a realistic approach in Bulgaria’s interest. According to Borissov, in 2012 and 2013, a 40% -50% absorption of EU funds under the Operational Programmes is expected. He emphasised that during his meeting with the Commissioner they drew up a map of the country with the the routes of high-speed four-lane roads and highways.

“When assuming office, the Government of GERB (Citizens for European Development of Bulgaria) found that the level of funds absorption under European Programmes was less than 1%, and now the respective figure exceeds 20%. “Our goal is the 100% use of the funding, although no European country has achieved such a result,” Borissov said.

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