BGN 20 bn to enter Bulgaria's economy after 2014

"In the next programming period from 2014 to 2020, Bulgaria will receive BGN 17.1 bn from European funds. National co-financing added, the amount will reach BGN 20 bn," EU Funds Management Minister Tomislav Donchev said during a discussion on the next seven-year financial framework of the community. According to him, the construction of railway infrastructure to Danube Bridge 2 will be financed with nearly €2 bn. Over BGN 4 bn has been earmarked for promoting the competitiveness of Bulgarian businesses. Donchev reminded that the money under the cohesion policy for all EU countries is €336 bn, but the exact amount for Bulgaria is still a subject of negotiations.

The funds from the European budget will be allocated as follows: 30% of the whole financial framework is for the Cohesion Fund, which means investments in infrastructure - roads, railroads and the water sector. About 18% is earmarked for the European Social Fund, financing science, education and social activities. The remaining money is for the European Regional Development Fund and half of this resource is intended for priority activities such as assisting small- and medium-sized enterprises. An emphasis will be placed as well on the so-called green measures in the economy. Asked to comment on whether the 30% share of the Cohesion Fund is not a reduction of the funds that used to be planned until now, Donchev said that this is in no case of a retreat on our part.

Regarding the absorption of EU funds from the current programming period, he said that the middle of 2012, when all projects from 2011 will be paid, will be crucial.

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