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.

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