Bulgarian PM Promises Drastic Upping of EU Funds Absorption

Bulgarian PM Borisov (right) with WB President Zoellick; over the week, Zoellick visited Bulgaria and the WB agreed to send experts who would help with infrastructure projects. Photo by BGNES

Bulgarian PM Boyko Borisov praised his cabinet’s work and vowed to speed up the rate of Bulgaria’s absorption of EU funds.

Speaking in Varna on occasion of the city’s holiday, Borisov said: “I guarantee at least 50-60% absorption of EU funds.”

Bulgaria’s slow pace of securing financial benefits from its EU membership is notorious. Union authorities have also been raising alarm at irregularities and fraud committed.

Sunday Borisov recalled good opinions about the work of his team voiced by World Bank President Robert Zoellick during his visit to Bulgaria earlier in August.

Borisov said that by the end of August a World Bank delegation will visit Bulgaria to work out measures of financial support.

During his visit, Zoellick had expressed interest from the World Bank to support Bulgaria’s efforts not only in the area of infrastructure, but also to aid it build capacity for the regular and full-scale absorption of EU funds.

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