site.btaEU Cohesion Funding for Bulgaria Expected to Increase by Eight Per Cent in Next Programming Period - Minister

Sofia, June 7 (BTA) - In the next programming period, 2021-2027, the EU funding for cohesion to Bulgaria is expected to increase by eight per cent, Regional Development and Public Works Minister Nikolay Nankov said, quoted by his Ministry. Nankov spoke at a conference of the European Committee of the Regions on "Implications of the EU Long-term Budget post-2020 for Local and Regional Authorities" held at Sofia's NDK convention centre.

Nankov said that EU cohesion policy, which he described as the main investment policy of the EU and one of the most tangible expressions of solidarity in the EU, is much more than mere redistribution of funding to poorer member states, although this still is a characteristic of the policy. According to Nankov, the cohesion policy is a powerful instrument for regional development.

The Minister said that the use of a more flexible approach of investments from several funds - multiple fund investment or even multiple fund programme, will have a positive impact as it will allow for "regionalization" of investments with a focus on the specific needs of the concrete regions. Nankov also noted the strengthening of the decentralized approach in programme management which too is a prerequisite for realization of investments with high added value.