The European Commission approved the allocation of EUR 1.37 billion in grants under Bulgaria’s Recovery and Resilience Plan.
“Bulgaria has made enough progress in the rollout of its Recovery and Resilience Plan to receive its first payment under NextGenerationEU. (…) Bulgaria will receive about EUR 1.4 billion in grants. This first payment is the result of Bulgaria's good and swift progress in implementing the first set of reforms and investments,” European Commission President Ursula von der Leyen announced in a video address.
The money is expected to be transferred to the country’s budget at the beginning of December. The spending will take place in 2023 which will lead to a record-high European financing budget next year.
Ursula von der Leyen commended Bulgaria for the progress it has made in the adoption of significant reforms for combating money laundering, improving minimum income coverage and providing social services.
Atanas Pekanov, Deputy Prime Minister for EU Funds Management in the caretaker government on his part stated that the financing approved constitutes 23% of the total Recovery and Resilience Plan financial resource. Several bills, connected with the second payment to Bulgaria, are to be tabled within days. In his words, the second payment under the plan is not subject to a 40% reduction of carbon emissions from Bulgaria’s coal-fired power plants.
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