(AGENPARL) - Roma, 7 Luglio 2022 - (AGENPARL) – gio 07 luglio 2022 PRESS RELEASE
2022-313-EN
Luxembourg/Sofia, 7 July 2022
EIB signs memorandum of understanding with Bulgarian government to improve the use of EU funds
The EIB support will enhance Bulgaria’s project preparation to improve the country’s use of EU funds.
The EIB could also support institutional capacity building measures and assist in the preparation or update of sector strategy documents and investment plans.
EIB Vice-President Lilyana Pavlova and Deputy Prime Minister for EU Funds and Minister of Finance Assen Vassilev expressed satisfaction with the continuation of advisory services in Bulgaria.
According to the memorandum, the European Investment Bank (EIB) will provide support to the government of Bulgaria to contribute to the effective, efficient and timely preparation and implementation of projects or investment programmes financed by EU funds. Considering the government of Bulgaria’s needs and EIB’s role as the European Union’s long-term lender, the Bank will also be able to support institutional capacity building measures and assist the Bulgarian government in the preparation or update of strategy documents and investment plans for specific sectors.
EIB Vice-President Lilyana Pavlova and Deputy Prime Minister for EU Funds and Minister of Finance Assen Vassilev met on 7 June in Sofia to sign a memorandum of understanding on project support between the government of the Republic of Bulgaria and the EIB for these advisory services.
The government of Bulgaria has identified several broad areas where additional support would be required during the recently started 2021-2027 programming period. Under this memorandum of understanding and subject to agreement between the Bulgarian government and the EIB, separate project advisory support service agreements (PASSAs) will be signed between the EIB and specific Bulgarian beneficiaries or final recipients and/or managing authorities.
EIB Vice-President Lilyana Pavlova said: “The EIB has provided key support related to the preparation of strategic documents, assisting in project delivery and institutional capacity building to the Bulgarian authorities so far. The signature of the memorandum of understanding is a logical continuation of our successful PASSA advisory services in Bulgaria. We are looking forward to extending our tailor-made support to the government, managing authorities and other beneficiaries in climate action projects covering areas including water, wastewater, solid waste and the just transition projects across the country to strengthen the social and economic impact of new investment and address local employment, education and financing challenges.”
Bulgarian Deputy Prime Minister for EU Funds and Minister of Finance Assen Vassilev said: “I am delighted that we continue the cooperation with the European Investment Bank in the new programming period and on the Recovery and Resilience Plan. Our joint work with the EIB will ensure transparency and control in the spending of funds, as well as significant complementary funding for projects that are of key importance to our country.”