The European Commission Received the Recovery Plan from Bulgaria. What's Next?

The European Commission received today an official Recovery and Sustainability plan from Bulgaria. The plan identifies the reforms and public investment projects that Bulgaria plans to implement with the support of the Reconstruction and Sustainability Mechanism.

The Recovery and Sustainability Facility is at the heart of NextGenerationEU, which will provide € 800 billion (at current prices) to support investment and reform across the EU. The Mechanism for Recovery and Sustainability will play a crucial role in supporting Europe's efforts to emerge stronger from the crisis and in ensuring an ecological and digital transition.

The plan was presented after an intensive dialogue between the Commission and the Bulgarian authorities.

Bulgaria's plan for recovery and sustainability

Bulgaria has requested a total of 6.6 billion euros in grants under the Mechanism for Reconstruction and Sustainability.

Bulgaria's plan is structured around four pillars: Innovative Bulgaria, Green Bulgaria, Connected Bulgaria and Fair Bulgaria. The plan includes measures in areas such as the decarbonisation of the economy, education and skills, research and innovation, smart industry, energy efficiency, sustainable agriculture, digital connectivity, social inclusion and health. The projects in the plan cover the entire life cycle of the Mechanism for Reconstruction and Sustainability until 2026. The plan proposes projects in five of the seven leading European areas.

Next steps

The Commission will assess Bulgaria's plan on the basis of the eleven criteria set out in the regulation and will turn its content into legally binding acts. This evaluation will include a review of whether the plan contributes to effectively addressing all or a significant part of the challenges identified in the relevant country-specific recommendations made in the context of the European Semester. The Commission will also assess whether the plan envisages at least 37% of spending on investment and reforms in support of climate goals and at least 20% on the digital transition.

As a general rule, the Council will have four weeks to adopt the Commission's proposal for a Council implementing decision.

The Commission has already received 26 recovery and sustainability plans. It will continue to work with the Bulgarian authorities to help them implement a high quality plan.

The Commission adopted positive evaluations for 22 plans. It will continue to evaluate the plans of Sweden, Poland and Hungary.

You can read more about Recovery Plan from Bulgaria here

/BNT

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!