INTEGRA GROUP
ideas in action

EU FUNDING

 

One of the greatest advantages of Bulgaria’s accession to the EU, and at the same time one of the biggest challenges, is the utilization of the large-scale financial support for development provided by the EU financing vehicles which create unprecedented opportunities for sustainable social and economic growth. The funds envisaged for Bulgaria in the period 2014-2020 are about EUR 14,4 billion. The experience of the EU member states that the financial instruments of the EU policies have a strong impact on development by increasing the physical, financial, human, social and environmental resources of the supported countries and regions and encourage the introduction of new solutions in the elaboration of policies and policy-making. In order to achieve such impact the funds must not only be used in due time and in accordance with the formal requirements but also be utilized effectively. This means that there should be institutional and administrative capacity for project development and management adequate to the scale of the support as well as good knowledge of the specific (regarded as complicated and bureaucratic) rules and procedures connected with the granting of funds.