Bulgaria secures approval for National Recovery and Resilience Plan enhancements

In a significant development for Bulgaria, the European Commission (EC) has provided a positive assessment of the country's revised National Recovery and Resilience Plan (NRRP). This plan includes a dedicated chapter on the REPowerEU initiative, focusing on addressing pressing energy issues such as energy poverty and the promotion of renewable energy sources. With a total allocation of €6.17 billion in grants, the revised plan encompasses 50 reforms and 51 investments designed to facilitate Bulgaria's green transition and digital transformation. The revised NRRP allocates nearly half of its resources, specifically 49.9%, towards climate-related measures, emphasizing the importance of ecological sustainability in the country's recovery efforts. Concurrently, about 20.6% of the funds are earmarked for digital initiatives, aimed at expanding high-speed internet access, enhancing digital skills, and modernizing public administration. Additionally, the plan retains a social orientation that includes reforms aimed at modernizing education and improving access to long-term healthcare, which are crucial for ensuring the well-being of the Bulgarian population. Bulgaria has already received €1.37 billion as the first payment under the Recovery and Resilience Facility (RRF). The Commission's approval of the amended NRRP is contingent on Bulgaria's progress in implementing the outlined investments and reforms. The Bulgarian government expresses confidence that the changes will facilitate smoother execution and successful completion of the projects, which are essential for the country’s economic resilience and recovery. Moreover, the approval of the REPowerEU chapter enables Bulgaria to access an additional €479 million, specifically intended to bolster measures addressing energy poverty, liberalize the electricity market, and promote renewable energy initiatives. The NRRP underwent a restructuring process, which involved reducing the number of stages and objectives from 321 to 259 and fewer payments from nine to five. Unviable investments have been removed, while new proposals in energy efficiency and transport connectivity are introduced, signifying a strategic shift in investment focus. This modification reinforces Bulgaria's commitment to aligning with the European Union's goals for sustainability and better governance.