EU Council’s Budget Committee at a Working Meeting with Sofia Municipality

Sofia Municipality welcomed the members of the Budget Committee of the EU Council and introduced them to some of Sofia’s successful projects implemented with EU funds.

Doncho Barbalov, deputy mayor of Sofia, and Vladimir Danailov, CEO of Sofia Investment Agency, presented both larger projects already implemented in the city and various opportunities for investment and business development in the capital.

For the last programming period 2007-2013 Sofia Municipality attracted funds for 89 projects with EU funding of a total amount of nearly BGN 3 billion. A total of 53 of them were under EU Operational Programs amounting to BGN 2 848 billion. The remaining 36 projects were under EU Community programs and territorial cooperation programs and amounted to a total of BGN 7.5 million.

The largest project implemented with EU funds in the capital is the metro, having its third line currently in progress. The other projects are in the field of transport and water supply and sewerage infrastructure, energy efficiency, ecology, educational infrastructure, public leisure and recreation areas, etc.

The guests were introduced to Sofia’s advantages in terms of investment and business development, including strategic geographic position, highly educated population and excellent living conditions, education, tourism and sports.

Members of the EU Budget Committee are in Sofia as an informal meeting of the committee is being held in the National Palace of Culture. It is attended by representatives of all Member States, the General Secretariat of the Council and the European Commission.

The Budget Committee is a working body that examines the EU’s annual budgetary procedure and changes in the annual budget. It is also in charge of the legislative work in the field of EU financial legislation, including the amendments to the Financial Regulation.