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Bulgaria's FinMin Simeon Djankov. Photo by BGNES
Bulgarian Minister of Finance Simeon Djankov has proposed Tuesday the creation of a special fund to stimulate the development of Bulgaria's municipalities.
Djankov said that he will officially present the proposal to the National Association of Municipalities, which is then to flesh it out.
"We can start from BGN 50 M and make the fund grow every year," stated the Minister of Finance.
According to Djankov, the Association is in particular to develop a methodology for the distribution of funds to specific local authorities.
"That might be to municipalities who are financially disciplined, or to municipalities that have suffered trouble in the past, but are now recovering," said he.
Djankov said his intention is that money from the fund be principally used to help with the construction of infrastructure projects, including schools and sports facilities.
Last week the Bulgarian Finance Minister presented a methodology used by the ministry to assess the financial performance of local authorities.
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