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The EC’s pre-accession aid to Bulgaria is mainly provided by three instruments: the PHARE programme, ISPA and SAPARD.
The EU raised the amount of financial assistance to Bulgaria by an average of 30% in the period 2004-2006. Bulgaria received about € 400 million per year reaching 2% of its GDP. Under its mid-2004 agreement with the EU, Bulgaria receives 240 million euro on top of the previously announced funding of 4.4 billion euro from the EU's 2007-2009 budget.
The Minister of Finance of Bulgaria is the National Aid Coordinator and ISPA Coordinator. He exerts his power by:
- organising and carrying out the activities related to coordination, programming, management, monitoring and assessment of the financial aid provided to Bulgaria under the EU pre-accession financial instruments
- organising and monitoring the efficient and lawful management of the resources from the EU Structural and Cohesion Funds in compliance with Bulgaria's policies for accession to the EU
- coordinating the joint monitoring mechanism for implementation of the programmes funded by the pre-accession instrument.
Further reading:
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Absorption and Management of EU funds – major documents, management schemes, financing memoranda, financial implementation of programmes, structural funds, tenders (Ministry of Finances of Republic of Bulgaria)
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