BRUSSELS, May 28 (Reuters) – The European Commission commended Bulgaria’s advancement in creating an independent anti-corruption agency on Thursday, while emphasizing the nation must sustain its reform efforts to secure the remaining EU pandemic recovery funds before the August 2026 cutoff date.
Bulgaria was allocated €6.2 billion ($7.2 billion) in grants through the EU’s recovery program, but the funding depends on completing various reforms, including creating the anti-corruption agency and transitioning energy production toward renewable sources.
The country has already collected €3.3 billion in EU funding, though achieving the remaining benchmarks and objectives has been challenging due to five parliamentary elections held over the past three years.
“We all know that there is the deadline in August 2026. So, the goal is to unlock resources by then. For this, we must maintain momentum on reforms,” European Commission head Ursula von der Leyen stated following discussions with Bulgarian Prime Minister Rumen Radev.
“I very much welcome that the legislative process is already well under way. Your government is therefore delivering on this significant milestone,” she stated, highlighting that Bulgaria could receive €370 million from the EU upon completing the reform.
She additionally mentioned that enhancing the profitable segment of the state-owned Bulgarian Energy Holding, particularly its clean energy production division, would represent a significant advancement for Bulgaria’s energy infrastructure.
“In total, there are 1.2 billion euros in the plan for clean energy investments in Bulgaria,” she stated.
Beyond the recovery fund, the EU stands prepared to provide Bulgaria with €3.2 billion in affordable loans through its SAFE program designed to strengthen defense capabilities of EU nations, particularly those on the bloc’s eastern border that could face potential Russian aggression.
“We will support Bulgaria with more than €3.2 billion under SAFE as we just discussed. And we are ready to sign our loan agreement with Bulgaria at any time,” von der Leyen stated.
