site.btaBulgaria Takes Measures to Minimize Loss of EU Funding for All High-Risk Projects

Bulgaria Takes Measures to Minimize Loss of EU Funding for All High-Risk Projects

Sofia, March 23 (BTA) - Bulgaria is taking steps to minimize the
loss of EU funding for all high-risk projects supported by
Operational Programme Regional Development, Deputy Regional
Development Minister Denitsa Nikolova told the press here
Monday. The largest projects such as the Sofia Northern Tangent
High-speed Road have also been found to be the highest-risk
projects, she added.

The projects are being evaluated almost every other month.

Most often the risk in project has to do with public procurement
procedures which are challenged in court, said Nikolova.

The latest analysis by the managing authority of this
operational programme late last year set the value of high-risk
projects at 600 million leva.

Measures that have been taken by the managing authority and the
beneficiaries have significantly lowered this risk.

Other high-risk projects that Nikolova mentioned include the
projects for integrated public transport in Varna, Rousse,
Plovdiv and to some extent Plovdiv. Some projects for tourist
attractions and improving urban environment have also been found
to be under risk.

The strongest measure for minimizing the loss of funding is
having a reserve list of projects worth over 100 million leva.

Deputy Minister Nikolova was speaking to the press on the
sidelines of a discussion on the public procurement legislation,
organized by the Building Chamber in Bulgaria.