Bulgaria needs to boost use of EU aid funds: parliament

(SOFIA) - Bulgaria is making quicker use of its EU funds but further efforts are needed if it is to make the most of some 13 billion euros that are only available until 2013, a parliamentary report said Wednesday.

Beneficiaries have so far used 562 million euros (720 million dollars) of the money available under seven post-accession aid programmes for Bulgaria, the report by the parliamentary commission on European affairs found.

In comparison, a year ago, only 80 million euros of the money had been paid out.

Bulgaria's failure to prevent fraud and guarantee transparent use of European Union funds has cost it millions in lost subsidies and severely delayed the start of post-accession aid programmes.

Under seven programmes, Bulgaria can use European aid to improve regional development, transport and infrastructure as well as to boost competitiveness and administrative capacity.

Apart from the eight billion euros available under these programmes, Bulgaria has another five billion euros of farm sector aid that has to be used by 2013.