Bulgaria’s EU Funds Loss under Regional Development Program May Reach BGN 95 M

Bulgaria's EU funds loss under the Regional Development Program could reach BGN 70-98, according to caretaker Minister Vasil Grudev.

Grudev, as cited by the Bulgarian National Radio (BNR), announced that the loss of funding under Operational Program "Fisheries Sector Development" amounted to BGN 3.5 M.

He blamed the loss of EU funding on the inefficient administration, stressing that the projects and the payment requests had not been processed.

Grudev assured that the procedures were underway, adding that a project could not be implemented within the same calendar year as no contracts had been signed for 9-12 months at Bulgaria's State Fund Agriculture.

Bulgaria's caretaker Agriculture Minister admitted that the EC had also presented a number of objections against the new Regional Development Program but there was no time to redraft it as it would result in the impossibility to absorb EU funds under the scheme for at least two years.

Grudev complained that he was forced to defend an inhomogeneous program lacking clearly defined goals at the EC, stressing that he had to continue working on the scheme because Bulgaria owed this to the business sector and to the beneficiaries under the program.