Bulgaria hopes to use all available EU funds

(SOFIA) - Bulgaria has spent just 35 percent of European aid money made available since it joined the 27-nation bloc, but plans to use it all by a 2015 payment deadline, the minister in charge of EU funds said Thursday.

"European fund payments reached 35 percent, or 5.4 billion leva (2.7 billion euros, $3.6 billion) in end-2012," Tomislav Donchev told a press conference.

"Our objective is to reach a minimum of 65 percent by end-2013," he added.

Since Bulgaria, the EU's poorest member, joined in 2007, Brussels has put 15.6 billion leva at its disposal for infrastructure, regional development, and environment and social projects.

Contracts have now been signed that cover the full amount of the funds, Donchev said, despite previous concerns about a lack of good projects.

"We have contracted 15.7 billion leva, even more than we have available," he noted.

Transportation projects, including road construction and the Sofia subway are leading recipients, he noted.

Corruption concerns had prompted a freeze on, and partial loss of, EU money in the years that immediately followed Bulgaria's EU accession, and the current centre-right government that has been in power since 2009 has struggled to make up for delays in effective use of the money.