01781cas a2200253 a 4500 AALejournalIMF014199 230101c9999 xx r poo 0 0eng d 5.00 USD 9781475571684 1018-5941 BD-DhAAL BD-DhAAL Paliova, Iana. Bulgaria's EU Funds Absorption : Maximizing the Potential! / Iana Paliova, Tonny Lybek. Washington, D.C. : International Monetary Fund, 2014. 1 online resource (64 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper focuses on EU structural and cohesion funds assistance to Bulgaria during the 2007-13 program period. Initial weaknesses resulted in a low absorption rate, which was mitigated by increasing advance payments; applying electronic application and reporting procedures; simplifying and unifying tender processes; and strengthening the role of international financial institutions and banks in project preparation, evaluation and monitoring. The possible impact on growth and potential output is briefly discussed, while the risks of improper absorption are acknowledged. Valuable lessons have been learned, but it is recommended that additional steps be taken for the next program period 2014-20. Mode of access: Internet Lybek, Tonny. IMF Working Papers; Working Paper ; No. 2014/021 Full text available on IMF http://elibrary.imf.org/view/journals/001/2014/021/001.2014.issue-021-en.xml IMF e-Library