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500M euro in Ispa funding hanging by a thread for Bulgaria

Mon, Jan 18 2010 09:25 CET

byDnevnik.bg

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500M euro in Ispa funding hanging by a thread for Bulgaria

Bulgaria faced losing European financing if infrastructure projects worth at least 500 million euro under European Union's Ispa pre-accession programme are delayed or not implemented.

According to figures from the Finance Ministry, 46 per cent of the programme's 1.66 billion euro cash pot has been absorbed so far. EU data puts the ratio at 36 per cent. The programme closes at the end of 2010.

Almost all water treatment infrastructure projects financed under Ispa, which have a combined price tag of about 300 million euro are in the balance, Deputy Environment Minister Ivelina Vassileva. She said that part of the funds will need Budget subsidies, but the amount would be specified after negotiations with Brussels.

The railway linking Plovdiv and Svilengrad in the south of the country is another Ispa-funded project that would not be completed by the end of the year, said Bulgaria’s EU funding secretary Yuliana Nikolova. Only 94 million euro of the project’s 340 million euro total cost has been paid as of January.

The head of the European Commission's directorate-general for the regional policy, Dirk Ahner, warned that unless Bulgaria’s Environment Ministry outlined the set of measures to enhance efficiency of infrastructure projects financed under the regional development programme, the founding would be suspended.

Environment Minister Nona Karadjova pledged the reply would be submitted by the end of January. She said that the ministry had implemented measures on 18 troubled projects slated to receive a total 344 million leva.

Source: Dnevnik

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