The project has received funding from Bulgaria’s Recovery and Resilience Plan, a part of European Union’s NextGenerationEU instrument.
The main objective of Bulgaria’s National Recovery and Resilience Plan is to facilitate economic and social recovery from the crisis caused by the COVID-19 pandemic. In the pursuit of this goal, a set of measures and reforms have been grouped to make a significant contribution to the restoration of the economy’s growth potential and to develop it by ensuring resistance to negative external impacts.
In the long term, this will allow the achievement of the strategic goal of convergence of the economy and incomes to the European average. At the same time, the Plan lays the foundations for a green and digital transformation of the economy, in the context of the ambitious goals of the Green Deal.
NextGenerationEU is a temporary instrument that was set up in 2020 to address the socio-economic impacts of the COVID-19 pandemic. It will deliver funding of up to €750 billion, primarily to finance economic recovery in the EU. Spending takes the form of grants and loans to Member States through the Recovery and Resilience Facility and six other EU spending programmes for the 2021-2027 period.