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Bulgaria Might Lose EUR 275 M of EU Regional Development Funding

Politics » BULGARIA IN EU | May 29, 2014, Thursday // 13:53| Views: 1217 | Comments: 0
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Bulgaria: Bulgaria Might Lose EUR 275 M of EU Regional Development Funding Regional Development Minister Desislava Terzieva. Photo by BGNES

Seven projects under Operational Program Regional Development are risky and Bulgaria could lose BGN 514 M if it does not finalize them, the Regional Development Minister believes.

In a report sent to the Parliament's EU funding committee, Minister Desislava Terzieva wrote that due to significant delays registered in the projects Bulgaria might see its BGN 3.1 B (EUR 1.55 B) trimmed by one-sixth, the daily Trud reveals.

Among the most troublesome projects is the Northern arc of the Sofia Ringroad, the which covers almost half of the "risky" funding, amounting to BGN 234 M (EUR 117 M).

The document was to be on MPs' agenda on Wednesday, but the day was mostly dedicated to debates over the no-confidence motion against the government submitted by the opposition party GERB.

Problems of EU funding for regional development are now to be discussed in Parliament on Thursday.

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Tags: desislava terzieva, EU funding, Operational Program Regional Development, Sofia ringroad
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