site.btaEuropean Commission Approves Bulgaria's Revised EUR 6.17 Bln Recovery and Resilience Plan

The European Commission Wednesday gave a positive assessment of Bulgaria's revised Recovery and Resilience Plan. It now includes a dedicated REPowerEU chapter aimed at achieving the goal of Europe's independence  from Russian fossil fuels before 2030, the Commission said in a press release.

The revised plan is worth EUR 6.17 billion in grants and covers 50 reforms and 51 investments.

Bulgaria has adjusted its plan to reflect new realities, including higher costs linked to inflation, supply chain disruptions and changing market demands.

Bulgaria's revised plan has a strong emphasis on the green transition, with 49.9% of the total allocation dedicated to climate-related measures and 99.5% of the funds earmarked for REPowerEU dedicated to measures supporting climate objectives. The reforms and investments included in the REPowerEU chapter contribute significantly to the environmental dimension of the plan. These measures are intended to address energy poverty, support electricity market liberalization, promote renewable energy deployment, storage and use, and improve the balancing market.

The digital transition remains a key priority of Bulgaria's plan, with 20.6% of total funding earmarked for initiatives such as expanding high-speed internet coverage, enhancing digital skills, and digitalizing public administration and businesses.

The plan also maintains its important social dimension through measures aimed at modernizing education, as well as improving and enhancing access to long-term healthcare.

Next steps

The Council of the European Union has now four weeks to review and endorse the Commission's assessment. Bulgaria has already received EUR 1.37 billion as part of its first payment under the Recovery and Resilience Facility. The Commission will continue to disburse funds based on the country's progress in implementing the planned reforms and investments, the Commission said.