The Finance Ministry will coordinate, plan and monitor EU funding use, according to the new concept presented by Michel Barnier, EU Commissioner on regional policy, at his meeting with Kostadin Paskalev, Minister of Regional Development, on December 4 in Brussels. This is to be done by 2003, when Bulgaria will switch from annual to multi-year planning of fund use. Under the three pre-accession funds, Bulgaria will receive EUR 300 M each year. “The European Commission is ready to finance projects below the EUR 5 M under the ISPA program,” Minister Paskalev said. Minister Paskalev explained that efforts are currently being made for better use of the funds released under the PHARE, ISPA and SAPARD programs. He expects the first results in May-June 2002. In the process Bulgaria uses the experience of Ireland, Spain and Greece. Barnier accepted Paskalev's invitation to visit Bulgaria in early 2002.