Bulgaria Lags in Absorbing EU Funds, Risking Losses and Growing Debt
Bulgaria is falling behind in its utilization of European Union funds
European Investment Grows in Bulgaria
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Bulgaria’s leading sunflower and oil producer and grain trader has secured a loan agreement with the European Investment Bank. The financing will be used for the construction of a new sunflower oilseed production plant and storage and logistic facilities in the Beloslav municipality near Varna.
This agreement is supported by the European Fund for Strategic Investments (EFSI), the core part of the Investment Plan for Europe, or so-called Juncker Plan.
Meanwhile, the European Investment Bank opened an office in Sofia on September 18 to help provide local, targeted assistance for project promoters and small businesses looking for investment.
“I welcome the EIB’s commitment to targeting EU investment to the agri-food sector,” said European Commission for Agriculture Phil Hogan. “This is a growth sector with massive potential to contribute more to job creation and growth with smart, tailored investment. I encourage any and all agri-food operators with a suitable investment plan to make contact with the EIB to investigate what options may be open to them.”
Source: NewEurope
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