Deputy PM Karadjov: Cushioning Green Transition Impact on Bulgarian Regions, Municipalities Must Be Prioritized

Deputy PM Karadjov: Cushioning Green Transition Impact on Bulgarian Regions, Municipalities Must Be Prioritized

“We have enough instruments and funding to achieve the EU policy targets for a prosperous, modern, competitive and climate neutral economy by 2050, outgoing Bulgarian Deputy Prime Minister and Regional Development and Public Works Minister Grozdan Karadjov said here on Friday, addressing a conference on “The Green Deal – Innovation, Investment and a Just Transition”.

With the most carbonized and resource-intensive economy in all the EU, Bulgaria has production processes of low energy efficiency, and so is the country’s building stock, the Deputy PM said. He noted the need to carry out adequately the forthcoming unpopular reforms within the context of the Green Deal. The Regional Development Minister sets key priority on ensuring full support for Bulgarian regions and municipalities to cope with the socio-economic impact of the transition to climate neutrality. The measures and investments that the authorities will back as the economy is being decarbonized should give security to people above all in the three coal-mining regions: Stara Zagora, Pernik and Kyustendil. Karadjov said that his Ministry will be managing this programme and will invest heavily to this end.

Operational Programme Regional Development will have BGN 6.6 billion leva at its disposal for the programming period ending in 2027. These financial resources should help redress imbalances in municipalities’ development, should reverse adverse demographic trends, and should catalyze economic growth and improve the quality of life for people in those regions.

The three regions that are worst hit by the transition to a low-carbon economy will be supported with financing from the Just Transition Fund. The money available for investments in Stara Zagora, Pernik and Kyustendil account for 45% of the entire budget of the operational programme.

Over BGN 717 million under the National Recovery and Resilience Plan will be invested in energy renovation of residential buildings and in green mobility. The first project is for energy renovation of state- and municipal-owned buildings, the Deputy PM said.