Bulgaria has already made up for the delay in absorbing the financing made available to it under the ISPA

Programme. Contracts have been signed for 1,359,883,000 euro, over 83 per cent of the allocated 1,551,700,000 euro, Deputy Prime Minister Meglena Plougchieva's press office said on Wednesday.

Over 39 per cent of the money has already been paid, according to analysis of the Finance Ministry and the three ministries managing projects under the programme: of transport, of the environment and of regional development and public works.

The Transport Ministry manages 911 million euro available under the ISPA Programme. Contracts worth 790 million euro have been signed so far, and 305 million euro (39 per cent) has been paid out. This funding includes already successfully completed projects - the Sofia Airport Reconstruction, Development and Extension Project and Transit Roads 3 - Lots 3, 4, 8 and 9.

Considerable progress has been made in the organization and implementation of construction and assembly of the adjoining infrastructure in the project for a road-railway bridge over the Danube at Vidin-Calafat.

The Environment Ministry has announced all tender procedures concerning the implementation of ISPA-financed projects. Twenty-one financial memorandums worth 508 million euro are being implemented. It is realistic to expect that the entire ISPA financing may be absorbed until December 2010 when the programme ends.

The Regional Development and Public Works Ministry is implementing financial memorandums for ISPA projects worth 132.7 million euro. Contracts worth 134.8 million euro have been signed, i.e. slightly over 100 per cent. The balance has been provided from the national budget. The Ministry has paid out 63,252,000 euro.

All projects financed under the EU ISPA Programme and by the international financial institutions should be implemented by the end of 2010 when the ISPA Programme ends.

Source: BTA