Parliament Ratifies Agreement with EC for Funding under Recovery and Resilience Facility

Jerusalem, 13 July, 2022 (TPS) -- SOFIA, Bulgaria (BTA)
On Wednesday, the Bulgarian Parliament approved on first and second readings a bill for ratifying an agreement between the European Commission (EC) and Bulgaria for funding under the Recovery and Resilience Facility. On its second reading, the document was approved with 147 votes in favor. Against ratification of the agreement were only ten MPs from the Vazrazhdane party (the Bulgarian “Revival” party which is currently in the opposition).

The bill’s passage means ratification of the agreement which would initiate the financial implementation of the National Recovery and Resilience Plan. This would also create a regulatory framework in order to guarantee the effective implementation of the planned reforms and investments in Bulgaria, all of which are prerequisites for submitting the first request for payment to the EC.

The agreement envisages regular inspections and combating possible fraud, corruption and conflict of interest.

The Parliament also ratified the Memorandum of Understanding (MoU) between Bulgaria and the European Bank for Reconstruction and Development (EBRD), under which the bank will support the Bulgarian Government in the implementation of EU-funded projects in the 2021-2027 programming period, including the National Recovery and Resilience Plan.

Under the MoU, the EBRD will provide support on the basis of individual agreements, signed with institutions that are responsible for the implementation of the National Recovery and Resilience Plan and the EU Cohesion Policy, and the support will be funded by the corresponding European funds. The potential fields in which the EBRD will provide technical support are: decarbonization and sustainable energy, public-sector reforms, and private-sector competitiveness.