BRUSSELS COMMENDS BG ON THE START OF SAPARD
Politics | July 7, 2001, Saturday // 00:00
The European Commission (EC) gave a high assessment of Bulgaria`s preparation to get agriculture aids under the SAPARD program during the pre-admission period, the `Deutsche Welle` reported on Friday, quoting the commission`s report. The report acknowledges the substantial progress achieved by the candidate country to support the good functioning of SAPARD so far. The analysts emphasize that Estonia and Bulgaria were the first to successfully finish the preparations on the introduction of the respective mechanisms for the program`s execution by May 2001. Thus they will have the chance to receive the money as early as 2001, the report reads. In the next five years Bulgaria will receive 53 M euros. Three banks in Bulgaria have already announced that they will allot credits to farm producers under SAPARD: First Investment Bank, Unionbank and Biochim Trade Bank. Ten projects of the bank under the program are already approved. They are worth about BGN 4.4 M and will receive a BGN 2.2 M subsidy from SAPARD.
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