site.btaFinance Minister Petkova: Recovery Plan Can Contribute to Bulgaria’s Decarbonization

The reforms and investments included in the National Recovery and Resilience Plan have the potential to contribute to the decarbonization of the economy through increased generation and storage of electricity from renewable sources, increased energy efficiency, the construction of sustainable road and rail infrastructure for zero-emission transport, and the development of sustainable agriculture and water resource management, said caretaker Deputy Prime Minister and Minister of Finance Lyudmila Petkova on Wednesday at the fourth edition of the Green Transition Forum focusing on new prospects for Central and Eastern Europe, organized by Dir.bg and 3E News. BTA is a media partner of the event.

This is the fourth edition of the forum, dedicated to the European Green Deal and Green Transformation. It was opened by President Rumen Radev.

Petkova said that Bulgaria's Recovery and Resilience Plan is one of the greenest in Europe and added that measures to support climate goals account for more than 60% of the total funds allocated under it.

The caretaker government is committed and paying increasing attention to the effects of climate change and the costs of addressing them at national level, Minister Petkova said. Strong institutional support and administrative capacity, available capital in the form of appropriate financial instruments for the market, investment and knowledge, and informed content for all stakeholders in the process are needed to finance and achieve the green transition goals, Minister Petkova added.

The EU's green agenda should be a top priority, with the possibility of a broader perspective aimed at competitiveness, economic growth and strategic autonomy, Minister Petkova said.

She also noted that different member states have different starting positions, adding that for some countries achieving the ambitious climate goals takes much longer and more resources than for others. Petkova noted the need to take into account the existing differences and opportunities, the administrative capacity and the support needs of different business sectors at both national and European level. This would ensure that the transition to climate neutrality is socially sustainable, promoting economic development in all regions.