Regional Policy Commissioner Impressed with Bulgaria’s 75% EU Funds Absorption Rate

EU Regional Policy Commissioner Corina Cretu met Tuesday in Sofia with Bulgaria's Prime Minister Boyko Borisov. Photo by BGNES

EU Regional Policy Commissioner Corina Cretu has expressed her appreciation for the work of Bulgarian authorities in view of the absorption rate of over 75% of EU funds for the 2007-2013 programming period.

Cretu shared her impressions after a Tuesday meeting with Bulgarian Prime Minister Boyko Borisov in Sofia.

“One can tell that these joint efforts are yielding results, taking into account that the absorption rate for the previous programming period stood at around 60% 6 months ago. You managed to avoid the risk of having to return EU funds of EUR 250 M, yet you have a total of EUR 1.8 B more until the end of the programming period. Judging by your decisiveness, I am convinced that you will do the best you can,” she declared, stating her support for Bulgarian authorities.

Cretu pointed out that the meeting with Prime Minister Borisov had been very constructive as regards EU Structural Funds and the opportunities provided under them for Bulgaria and its citizens, according to reports of the BGNES news agency.

“In the 2014-2020 programming period there will be 7 new operational programs worth a total of EUR 7.6 B. Investments will go to job creation and the introduction of innovations in key spheres,” she noted, citing education, infrastructure projects and schemes targeting the social structure as priority issues.

She made clear that there was no option to extend the EU-funded projects that were not wrapped up by end-2015 into 2016 due to the new rules regulating the matter, adding that other EU Member States were facing similar problems.

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