30.03.2004 г.

Today, 30 March, 2004, the Minister of Finance and National EU Aid Coordinator Milen Veltchev and the Director General of DG Enlargement of the European Commission Mr. Fabrizio Barbaso signed three Financing Memoranda under the PHARE Cross-Border Cooperation program at the total amount of EUR32,120 mln.

The Financing Memoranda are as follows:

- BG 2003/005-630 between the Government of the Republic of Bulgaria and the European Commission under the 2003 PHARE Cross-Border Cooperation program between Bulgaria and Greece at the amount of EUR 20,000 mln.;

- BG 2003/005-631 between the Government of the Republic of Bulgaria and the European Commission under the 2003 PHARE Cross-Border Cooperation program between Bulgaria and Romania at the amount of EUR 8,000 mln.;

- BG 2003/005-632 between the Government of the Republic of Bulgaria and the European Commission under the 2003 PHARE program on the External Borders Initiative for Bulgaria amounting to EUR 4,120 mln. for co-operation between the Republic of Bulgaria on the one hand, and Serbia and Montenegro, Macedonia and Turkey, on the other.

The following approaches have been used throughout the preparation of the PHARE CBC program:

 introducing sector dimensions in the programming process by paying special attention to infrastructure and economic development – transport and local infrastructure, border control, environment, tourism, small and medium-sized enterprises;

 orientation to prepare border areas for participation in EU structural funds as from Bulgaria’s accession;

 transition to programming carried out in the context of extended financial management decentralization.

The funds to be provided by these financing memoranda will be used for implementation of projects summarised in the following priority program areas:

 promotion of economic development and employment;

 environment protection and improvement of the living standard in the border areas;

 strengthening economic activity and cross-border relations on a local level by the “people to people” small project and small-scale project fund;

 technical assistance for the development of future co-operation programming documents.

Support will be provided to projects on protecting biological diversity in border areas, on their sustainable economic development, to projects on establishing a system for control and management of air quality, to projects on building road infrastructure, as well as to joint small project funds.

Republic of Bulgaria’s financial participation finds expression in national co-financing of investment component projects and amounts to EUR 14,365 mln.

An External Borders Initiative Financing Memorandum is signed for the first time between the European Commission and the Republic of Bulgaria’s Government. Thus a new stage in the development of economic co-operation and the good relations of our country with its neighboring countries is being established. The Financing Memorandum is an important instrument for increasing stability and security in the region.