Bulgaria

The EU to give EUR 20 mln to Bulgaria in June for the recovery from the floods

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Minister of Finance Plamen Oresharski acquainted the MPs with the measures taken by the cabinet to apply for financial assistance at the EU for the recovery from the damages inflicted by the floods. This happened today during the discussion prior to the vote of no confidence. The Minister pointed out that the government filed two application forms at the European Union Solidarity Fund in 2005. The EU has so far given its consent for EUR 20 mln. We expect the financial assistance to be considered by the EP by the end of April and in June or July we will be able to receive the assistance, said Minister Oresharski.

Bulgaria filed the first application form on 29 July 2005. The information included the first two flood waves in May and July 2005. The second document was submitted by Minister of Finance Plamen Oresharski in person on 24 August 2005. It covered the damages caused by the third flood wave.

Under the PHARE Programme, Bulgaria received EUR 12.5 mln. The absorption procedure is currently underway. Moreover, the Dutch government has allotted a grant of EUR 2.2 mln. The grant has to a large extent been absorbed, the Bulgarian Finance Minister pointed out.