site.btaInnovations Minister Lorer:Funding under EU-backed Programmes Will Be Invested Instead of Being Absorbed

ESD 16:57:01 11-02-2022
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124 ECONOMY-INNOVATIONS-MINISTER-ASSOCIATION-INVESTMENT

Innovations Minister Lorer: Funding under EU-backed Programmes Will Be Invested Instead of Being Absorbed

Sofia, February 11 (BTA) - The money under EU-backed operational programmes won't be absorbed, but will be invested in the economy in order to make up for the delay in the past decade when it hasn't been used efficiently to generate economic growth, said Innovations Minister Daniel Lorer on Friday. He was participating in a meeting of the National Council of the Bulgarian Industrial Capital Association (BICA), the Economy Ministry said on Friday.


The meeting discussed the new programming period 2021-2027, focusing on the dialogue with employer organizations and the Programme for Economic Transformation under the National Recovery and Resilience Plan.

Minister Lorer said that the mission of the Ministry of Innovations and Growth is to catch up for the delay through generating economic growth and creating favourable conditions for the development of innovations in Bulgaria. "Growth through innovations is the most sustainable growth. When we can create new things which will drive the economy ahead for years and not operations which can be relocated easily," said Lorer.

According to him this can be achieved through providing fast and transparent access for the business to various financial instruments. "Their consolidation in one place will help create uniform standards, improved efficiency and control over spent funds," he added.

Lorer said that together with the employer organizations will work so that EU funds are not received through consultants and very difficult procedures and to improve the efficiency of the programmes.

BICA Chairman Vassil Velev said that the Association called for a state authority in charge of innovations and said that they welcomed the establishment of the new ministry. RY/PP
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