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Publish Date : 08-Aug-2014

The European Commission has adopted a "Partnership Agreement" with Bulgaria setting down the strategy for the optimal use of European Structural and Investment Funds throughout the country. Today’s agreement paves the way for investing €7.6 billion in total Cohesion Policy funding over 2014-2020 (current prices, including European Territorial Cooperation funding and the allocation for the Youth Employment Initiative). Bulgaria also receives €2.3 billion for rural development and €88 million for fisheries and the maritime sector.

The EU investments will help tackle unemployment and boost competitiveness and economic growth through support to innovation, training and education in cities, towns and rural areas. They will also promote entrepreneurship, fight social exclusion and help to develop an environmentally friendly and a resource-efficient economy.

The European Structural and Investment Funds (ESIF) are:
The European Regional Development Fund, The European Social Fund,
The Cohesion Fund, The European Maritime and Fisheries Fund, The European Agricultural Fund for Rural Development.

Commenting on the adoption, Commissioner for Regional Policy, Johannes Hahn said: "Today we have adopted a vital, strategic investment plan that sets Bulgaria on the path to jobs and growth for the next 10 years. This Partnership Agreement reflects the European Commission and Bulgaria's joint determination to make the most efficient use of EU funding so that the Bulgarian people themselves feel the benefit of these investments in an improved quality of life. Our investments must be strategic, according to the new Cohesion Policy: focusing on the real economy, on sustainable growth and investing in people. But quality not speed is the paramount aim and in the coming months we are fully dedicated to negotiating the best possible outcome for investments from the European Structural and Investment Funds in 2014-2020. Commitment is needed on all sides to ensure good quality programmes are put in place.”

Commissioner Hahn added: "This investment strategy builds on the important efforts Bulgaria is already making to help the EU meet its goals of creating long-term and sustainable development in all of its less developed regions. This Partnership Agreement covering all Structural and Investment Funds in Bulgaria will give a strategic direction to future programmes that will create jobs, transform Bulgarian SMEs into models of growth, and support environmentally friendly growth in its cities as well. It should also help secure Bulgaria's well-established track record in catching up with the rest of Europe. The European Structural and Investment Funds are helping Bulgaria's regions and cities to face these challenges."

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