Bulgaria is Likely to Lose BGN 30 Million from European Funds for Science

Bulgaria may lose at least 15 million euros or about 30 million leva from the European funds for science because of their slow absorption. This was made clear by Minister Krasimir Valchev's response during parliamentary scrutiny on Thursday.

The funds put at risk are from the reserve on the science axis of the "Intelligent Growth Science and Education" Operational Program. They can be used if the targets set at the start of the program for 30% of the EU funds used are achieved by the end of the year.

But it is almost certain that this will not happen and the reserve of about BGN 30 mln will be lost. For investments in scientific infrastructure, more than BGN 526 million have been earmarked under the education program until 2020. Until now, no leva has been used and the first contracts have been signed in the last months - four years after the start of the program.