EC Proposes 8.9 Bln Euro in Cohesion Funds for Bulgaria in 2021-2027

EC Proposes 8.9 Bln Euro in Cohesion Funds for Bulgaria in 2021-2027

The European Commission said that under its proposed cohesion policy spending, as part of the 2021-2027 multiannual financial framework, it has allocated to Bulgaria 8.9 billion euro ($10.4 billion) in constant 2018 prices. Taking inflation into account, the sum is 10.1 billion euro in current prices."Today we propose a Cohesion Policy for all regions, which leaves no one behind. We have made it more flexible, to adapt to new priorities and better protect our citizens," Corina Cretu, commissioner for regional policy, said in a statement on Tuesday. Bulgaria, through 10 national programmes, benefits from 9.9 billion euro in funding from the European Structural and Investment Funds (ESIF) during the current 2014-2020 programming period."Resources will continue to be geared towards regions that need to catch up with the rest of the EU the most," the Commission noted. The multiannual financial framework for the 2021-2027 period will be the second one to be adopted under the provisions of the Treaty of Lisbon, according to which the Council of the European Union, acting in accordance with a special legislative procedure, must unanimously adopt the multiannual financial framework regulation after having obtained the consent of the European Parliament.

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