SOFIA – Bulgaria is set to receive 1.47 billion euros with the announcement of the third payment from the National Recovery and Resilience Plan, as reported by the government information service.
The European Commission (EC) has positively evaluated Bulgaria’s third payment request under the National Recovery and Resilience Plan, indicating a crucial step toward the disbursement of EU funds to bolster Bulgaria’s economic growth and resilience initiatives. The EC confirmed that Bulgaria has satisfied 48 out of 50 predefined milestones and targets, paving the way for the payment before the year’s end.
Bulgaria submitted its request for the third payment under the Recovery and Resilience Facility on October 1. This payment encompasses the highest number of milestones and targets, covering 22 reforms and 19 investments. Key measures focus on areas such as advancing research and innovation, decarbonization, enhancing governance for state-owned enterprises, and developing e-healthcare.
The overall payment amount stands at 1.619 billion euros. However, the full payment from the EC will only be finalized following negotiations regarding reforms related to the Commission for Counteracting Corruption. A meeting is planned next week between Justice Minister Georgi Georgiev and EC representatives.
The EC has forwarded its preliminary assessment to the Economic and Financial Committee (EFC), which has four weeks to provide feedback. Following this, the Commission may proceed with a decision on the payment. Bulgaria has been notified of the reasons for the incomplete assessment of two milestones and has one month to respond. If confirmed, the temporary suspension will continue, granting Bulgaria six months to implement necessary measures to potentially release the remaining funds.
The payment for approved milestones and targets in Bulgaria is contingent upon a favorable opinion from the EFC and the EC’s subsequent payment decision, anticipated by December 2.
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