Bulgarian Properties - Bulgaria Receives EUR 140 Million from EU in Advance

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BULGARIA RECEIVES EUR 140 MILLION FROM EU IN ADVANCE

Bulgaria's PM Sergei Stanishev opened a seminar in the city of Bourgas on the absorption of EU funds. The seminar is under the motto 'Be Active'
Photo BTA

Bulgaria is to receive 140 million euro from the EU structural funds this year, even before the actual implementation of particular projects.
The payments from the EU will be three types - advance, intermediate and final," Bulgaria's Prime Minister Sergei Stanishev said at a seminar in the coastal city of Bourgas, part of the EU informational campaign 'Be Active'.
An advance payment in the size of twenty percent of the project cost is provided in the State Budget for the applicants on small and medium projects, and ten percent of the cost of big infrastructure projects. The advance payments allotted to Bulgaria on EU projects for the next year will not exceed 220 million euro, and for 2009 - 180 million euro.
EU structural projects, the implementation of which is in progress, will be financed with intermediary payments. Thus, there will be a permanent circulation of money to secure the projects' implementation. When the project is finished off, a final payment is to be made.
"Negotiations on the implementation of projects, financed by the EU structural funds, can start towards the middle of the summer," Stanishev said also.

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