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EC Oks Regional Aid Maps for Bulgaria, Romania, Cyprus

Politics » BULGARIA IN EU | January 24, 2007, Wednesday // 00:00

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The European Commission announced it has approved the regional aid maps covering the period 2007-2013 for Bulgaria, Romania and Cyprus.

A regional aid map defines the regions of a Member State eligible for national regional investment aid for large enterprises. The adoption of a regional aid map is a pre-condition to ensure the continuity of the regional policy and Structural Fund programmes as from January 2007, as the validity of all previous maps expired on 31.12.2006.

The Treaty allows aid to promote the economic development of areas with serious underemployment or an abnormally low standard of living. The Regional Guidelines define this type of regions as having a GDP below 75% of the Community average.

In line with the above principles, the whole of Bulgaria and Romania is eligible for regional aid at a maximum aid.

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