Brussels Vows to Keep Close Watch on Bulgaria Road Fund

The European Commission has pledged to monitor closely the state-owned National Road Infrastructure Fund, which made headlines last year following corruption charges against its former head.

The statement was made by Karsten Rasmussen, Deputy Head of the unit responsible for Bulgaria in Directorate General for Regional Policy of the European Commission, in response to complaints by local businessmen.

The controversy, which broke out following an investigation by the newspaper Kapital, led to the freezing of the EUR 723 M earmarked to improve Bulgaria's dilapidated roads. The company former head Vesselin Georgiev is charged with awarding contracts worth tens of millions of levs to companies run by two of his brothers.

Speaking at a conference about Bulgaria's infrastructure projects, Karsten Rasmussen pointed out that the European Commission applies the uncompromising rules equally to all member states and promised there will be no end to the checks.

Bulgaria has a bad image and some time should pass before it clears up, Rasmussen said.

Businessmen complained that the construction sector is facing a collapse and their only hope are tenders under EU operative programs.

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