Bulgaria looses substantial sum from EU

Bulgaria is losing the first substantial sum under European financing due to slow utilization of funds, the Sega daily announced.

Nearly EUR 200 million would not reach farmers because of lagging procedures and insufficient interest in separate measures under the programme for rural development. There is a serious risk of loosing means in the course of 2013, latest data provided by the team of Minister Tomislav Donchev referring to the expected fulfillment of operational programmes by December 31, 2012. The year 2013 will be risky for the remaining operational programmes. This holds good especially for the Environmental Protection OP, where projects are large scale and fund absorption by end 2012 is rather low.

Adapted from BNR