Bulgaria to absorb 22 billion BGN from the EU cohesion fund

Bulgaria's agreement with the EU for the Cohesion Fund is politically and technically ready and will be signed in the next few days, Bulgaria’s Prime Minister, Kiril Petkov, said on June 10 after holding a meeting with the European Commissioner for Cohesion and Reform, Elisa Ferreira.

The Cohesion Fund funds amount to 22 billion BGN.

"At the same time, we also talked about the fair transition fund, which is 2.6 billion BGN, which also needs to be fully prepared by the end of the year so that Bulgaria can absorb it, he added.

Petkov specified that in order to absorb this money, Bulgaria should have a stable government with a clear strategy for working with the European Commission.

"I see what progress has been made since Bulgaria's accession to the EU and I am very happy to see results that are a consequence of the Union's support. Over the years, the Cohesion Fund, the Regional Fund and the Social Fund have been a key instrument and trusted partner for Bulgaria to catch up with other Member States with a total investment of around €15 billion," Commissioner Ferreira said.

Over the past 14 years, Bulgaria has been a trusted partner in achieving common European priorities, she noted.

Through this agreement, Member States define their objectives and priorities for funding through the European Union's cohesion policy. For the first time, Bulgaria has included a commitment in the document to channel 50% of the funds to the three northern regions in order to overcome regional disparities.