The Bulgarian Ministry of Regional Development announced Tuesday they are releasing the funds to assist local municipalities in developing the tourism sector.

The program has been long-anticipated by the authorities around the country because it increases the amount for co-financing from 5% to 15%.

The “Assistance for Development of Natural, Cultural, and Historical Attractions” item is part of the EU “Regional Development” program. The amount is BGN 173 M – 85% of it would come from the EU and 10% from the State budget. The minimum amount for a single project financing is BGN 600 000 while the maximum is BGN 6 M. The deadline to submit project proposals is January 24, 2011.

The projects must aim at developing tourist sites to significantly increase the number of visitors.

161 Bulgarian municipalities can apply for funding for restoration, conservation, display and preservation of cultural sites, infrastructure development, entertainment activities, sports and leisure facilities, parking lots, parks, public restrooms, small facilities for waste removal among others.

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