Bulgaria’s projects under PHARE for 2002 exceed almost two times the estimates of the European experts based on the implementation of projects in previous years, Deputy Economy Minister Sofia Kasidova said. According to European experts Bulgaria lacks the administrative capacity to service the projects. The team that will negotiate the PHARE funding is determined to stand by the original program parameters, Kasidova confirmed. A seven-municipality project for the creation of business incubators for EUR 4,5 M was approved under PHARE in 2000. A quality management project worth EUR 5 M is also about to be finalized. Money will also be provided for a cultural tourism-related project which is at an advanced stage of development. Under the project, private capital will be used for the conservation of the national cultural heritage in a bid to commercialise the tourist product.

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