European Commission allocated €1.2 billion last week for the transformation of Stara Zagora, Kyustendil and Pernik under the Just Transition Fund.

“This is a very serious sum intended for the development of these regions. If we had delayed one more week, these funds would have disappeared, just as some €100 million disappeared at the end of last year because no documents were submitted by the caretaker government. This is great news for Bulgaria and for the people who live in these regions,” Prime Minister Nikolai Denkov commented.

The Bulgarian government stated that these funds must reach the regions as quickly, efficiently, and transparently as possible, as more than 15,000 jobs are expected to be preserved and created.

According to the government’s plans, over the next six years, this money will be spent on “activities to improve mine terrain for industrial needs, support for workers after mapping their skills, finance energy efficiency with a focus on vulnerable households, develop industrial parks and zones, development of production of components and electricity from renewable sources, and support for the diversification of the economy through new enterprises”.

Investments from large enterprises will also be supported in the Stara Zagora region, as more than 20 companies have expressed preliminary interest.