June 13 (SeeNews) - Bulgaria will receive 22 billion levs ($11.8 billion/11.2 billion euro) from the European Union's Cohesion Fund in the 2021-2027 period under a partnership agreement which has been finalised and will be signed in the coming days, prime minister Kiril Petkov said.
A further 2.6 billion levs will be allocated to the country from the Just Transition Fund, Petkov said on Friday after meeting the EU Commissioner for Cohesion and Reforms, Elisa Ferreira, in Sofia.
The Just Transition Fund, with a total budget of 17.5 billion euro ($18.3 billion), is a financial mechanism adopted last year within the EU's cohesion policy that aims to facilitate the implementation of the European Green Deal by supporting country investments geared towards tackling climate change such as carbon emission reductions, industrial upgrades, clean energy technologies and digital connectivity.
For the new seven-year programming period, Bulgaria has planned a total of ten operational programmes and has pledged to deploy 50% of the funding towards its three most underdeveloped regions - in the northeastern, northwestern and northern part of the country.
(1 euro = 1.95583 levs)