Banks to manage rural support funds next programme period

Bulgarian banks will take up the management of EU financing absorption under the Rural Areas operational programme during the next programme period of 2014 to 2020, Dimitar Simeonov, deputy head of the state fund in charge of the programme, said on Tuesday. The scheme will not be launched as a pilot project next year, as such a move would require amendments to the documents, thus stalling funds disbursement. Last week, the country's minister in charge of EU funds absorption, Tomislav Donchev, stated that banks will oversee EU financing under the Competitiveness and Development of Rural Areas programmes as of next year. Donchev, however, was not reached for comment when contacted by Dnevnik. Meanwhile, deputy agriculture minister Svetlana Boyanov does not exclude the possibility of banks' taking part in the management of EU projects under the rural support programme as early as 2011. The Ministry is currently discussing the mechanism's components which could be assigned to banks, she said. Meanwhile, Violina Marinova, chairwoman of the Association of Banks in Bulgaria (ABB) and DSK Bank chief executive, stated that the association has not reached a final decision on the proposed scheme. Banks' participation in EU financing management is aimed at accelerating funds absorption. The mechanism, currently used in Hungary and Greece, will also be introduced in Romania next year. (Dnevnik)