The European Commission decided to release EUR 120 M under the Phare Program to Bulgaria for transborder cooperation with Greece. For the same purpose, Greece gets EUR 170 M from INTERREG III, along with EUR 56.7 M from national and regional budgets and EUR 20.5 M from private investors. The funds will be used to improve the railway and road links between Bulgaria and Greece and to open more border checkpoints. The aid also seeks to promote cooperation between enterprises,
universities and research centres in the border areas, which will create new jobs in the two countries. Part of the money will be used to improve the state of the environment and cultural heritage in the area, totalling 40,202 sq km. "I am glad that approval of the release of the funds will encourage the second generation of programs under INTERREG in Greece," European Commissioner in charge of regional policy Michelle Barnier said, adding that the programme acquires still bigger importance in the light of Bulgaria’s future membership in the European Union.