EU Funds Minister 'Meets Promises' as Bulgaria Reaches 10% Absorption

EU Funds Minister 'Meets Promises' as Bulgaria Reaches 10% Absorption

As of January 3, 2011, Bulgaria has absorbed 10% of all EU funds slated for it under the seven operational programs, according to the Cabinet.

The 10% absorption of the more than EUR 6 B allocated for Bulgaria in the EU operational programs within the 2007-2013 financial framework was announced in a government press statement Tuesday.

"In comparison with 2009 when the rate of absorption of EU funds was a little over 1%, in 2010 the rate of absorption grew almost 10 times. By reaching this level the Minister of managing EU funds Tomislav Donchev has fulfilled the promise he made upon taking office," the Borisov government says.

Donchev assumed his position upon its creation in March 2010 as an attempt on part of the Bulgarian Cabinet to boost the vastly inefficient absorption of EU money which are supposed to help Bulgaria catch up with the rest of the EU at least to some extent as far as infrastructure projects and standards of living are concerned.

In the fall of 2010, Donchev said he hoped that by 2013 Bulgaria will have managed to absorb 70%-90% of all EU funds slated for it in the 2007-2013 EU financial framework.

Previous Next
Test Caption
Test Description goes like this
Cookies Preferences
Choose Type of Cookies You Accept Using

These cookies are required for the website to run and cannot be switched off. Such cookie are only set in response to actions made by you such as language, currency, login session, privacy preferences. You can set your browser to block these cookies but our site may not work then.

These cookies allow us to measure visitors traffic and see traffic sources by collecting information in data sets. They also help us understand which products and actions are more popular than others.

These cookies are usually set by our marketing and advertising partners. They may be used by them to build a profile of your interest and later show you relevant ads. If you do not allow these cookies you will not experience targeted ads for your interests.