Bulgaria – Investments in Regional Development
One of the best planned, most accurately designed and, to a great extent, most successful common EU policies is the one related to stimulation of regional development through specifically accumulated for that purpose funds – in an effort to help poor regions within the EU territory. Thus, what’s achieved is both re-distribution of available material resources to the ones that need them most and acceleration of the living standard equalization process (as long as that is possible) in the existing European regional communities.
Bulgaria as a relatively new EU member state takes advantages of the funding from the regional development programs in the best possible way. Through well-planned actions related to previously professionally prepared projects many Bulgarian municipalities manage to gain financing for the needs of their local development, thereby practically almost freely attaining enhancement of the respective residential area.
What are the most important advantages of the investments in regional development?
1) Creating jobs
Doubtless, one of the key aspects of such investments is creating jobs although temporary. And the fact that they get actually generated in areas and regions where the unemployment and destitution levels are relatively high makes their role even more essential.
2) Enhancement of regions
Investments in certain regions practically realize long-term enhancements. This is an important prerequisite for the overall regional development and positive results attainment in terms of the “catching-up” process in comparison with the more developed regions within the European Union.
In Bulgaria all these benefits are now available in almost all small regions and villages where municipalities have already realized investment projects on EU financing programs. The infrastructural and cultural progress is ostensible in many poor areas and that undoubtedly represents a prerequisite for the successful handling of the demographic challenges that jeopardize entire Europe. New hopes and high expectations arose after the submission of the new European budget framework for the next programming period since for regional development purposes Bulgaria has at its disposal huge resources to take vantage of which represent a certain warranty of investments security and perspectives in the overall state development.