site.btaGovernment Submits Proposal to National Assembly to Ratify First Amendment to Bulgaria-EU Financial Contribution Agreement under InvestEU

The Council of Ministers, at its regular meeting on Wednesday, approved a proposal to the National Assembly to ratify the First Amendment and confirmation of the Financial Contribution Agreement between the European Union and the Republic of Bulgaria under the Member State compartment of the InvestEU programme.

The document provides for an increase of EUR 96,964,246 in the financial contribution from the resources allocated to Bulgaria under the Recovery and Resilience Facility from EUR 150,000,000 to EUR 246,964,246, which is reflected in the total value of payments.

This amendment complies with EU rules on the financial management and control of European funds, as laid down in EU regulations, as well as with the applicable national legislation governing public spending, the Government Information Service said.

With the signing of the First Amendment and the confirmation of the commitments undertaken in the Agreement of November 7, 2022, under the InvestEU programme for Bulgaria, existing provisions are also amended, supplemented, and clarified, and the commitments undertaken are confirmed.