The European Commission announced today the approval of the partnership agreement with Bulgaria, which sets out the country’s investment strategy for the Cohesion Policy amounting to 11 billion euros for the period 2021-2027. Cohesion policy funds will promote economic, social and territorial cohesion in Bulgaria’s regions and help deliver key EU priorities such as the green and digital transition. They will also support policy areas where the country has the potential to improve and reduce regional disparities within it.
Cohesion and Reforms Commissioner Elisa Ferreira said according to the European Commission that the partnership agreement marks a decisive step for Bulgaria. “Cohesion funding in the period 2021-2027 will be essential to reduce regional disparities in the country and promote development convergence with the rest of the European Union. We now look forward to the completion of negotiations on the ten operational programs so that Cohesion Policy can start investing in key areas such as a clean environment, better education, business support and transport infrastructure as soon as possible.”
The partnership agreement with Bulgaria is the twelfth agreement for the 2021-2027 funding period, following those already approved for Greece, Germany, Austria, the Czech Republic, Lithuania, Finland, Denmark, France, Sweden, the Netherlands and Poland.
The partnership agreement combines the European Regional and Development Fund (ERDF), the European Social Fund Plus (ESF+), the Cohesion Fund (CF), the Just Transition Fund (JTF) and the European Marine Fisheries and Aquaculture Fund (EMAF). .
The funding of the covered areas will be distributed as follows:
Green transition and reduction of energy dependence
€2.4 billion from the ERDF and the Cohesion Fund will help Bulgaria achieve its climate goals.
In particular, 600 million euros will contribute to increasing the share of renewable energy sources to 27% of total energy consumption, as well as reducing energy consumption and greenhouse gas emissions in public buildings. ERDF funding will also be used to recycle 70% of all packaging waste, the Commission says.
Investments will also focus on reducing by more than a third (at least 35%) the proportion of the population at risk from natural disasters such as floods or forest fires.
The Just Transition Fund will provide €1.3 billion to ensure a socially and economically sustainable transition. It will also improve the ability of affected territories to make better use of renewable energy sources.
Approach with the EU and support to the most vulnerable areas
The funds will also help Bulgaria improve its basic infrastructure, especially in areas where infrastructure investment is insufficient or absent, the EU says. €4.2 billion will be invested in the northwestern, north-central and northeastern regions, including co-financing the construction of the Shipka tunnel, the first tunnel through the Balkan Mountains.
EU support for the business environment is expected to increase the share of innovative SMEs that will create jobs and contribute to the growth of the Bulgarian economy from 27.2% in 2016 to 32% in 2026.
Inclusive and digitization-friendly labor market
Bulgaria will invest €2.6 billion from the ESF+ to improve access to employment, increase skills so that citizens can successfully navigate the digital and green transition and ensure equal access to quality and inclusive education and training. This includes €315 million to support youth employment and €630 million for social inclusion measures, of which €136 million will be given to tackle child poverty. 221 million euros will be given for the social and economic inclusion of marginalized communities, such as the Roma.
Sustainable fishing and aquaculture
The European Marine Fisheries and Aquaculture Fund will invest almost €84.9 million in more sustainable fisheries and the restoration and conservation of aquatic biological resources in the Black Sea. Support will be provided for the development of a sustainable aquaculture and processing sector, local fishing and aquaculture communities and the implementation of international ocean governance.
SOURCE: APE-ME
Source: Capital
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