EC Grants Bulgaria's Requests for Technical Assistance in ERM II-Related Projects
The European Commission said it has approved Bulgaria's additional requests for technical support through the Structural Reform Support Programme (SRSP) for projects aimed at preparing the country's smooth transition to the Exchange Rate Mechanism II (ERM II). "The projects financed by today's decision focus on reforms in the area of insolvency, with accompanying measures to reinforce the judicial infrastructure and the corporate governance of State-Owned Enterprises," the European Commission said in a statement last week. The projects will be financed by transferring 1.5 million euro ($1.7 million) from Bulgaria's technical assistance component under the European Structural and Investment Funds to the SRSP. The SRSP is coordinated by the European Commission's Structural Reform Support Service, which was established in 2015 to support Member States in the preparation, design and implementation of institutional, structural and administrative reforms.