The European Commission will withhold some €500 million ($788.5 million) of EU funds allocated to its member state Bulgaria.
Reuters said on Saturday that Sofia looks certain to lose these previously approved funds because of corruption in this country. Brussels believes that the money could be subject of abuse. In addition, the mid-term EU budget’s €11 billion ($17.34 billion) set aside for Bulgaria will be closely monitored, the agency said. The EU will in July come up with a proposal for judicial and anti-corruption reforms for its newest members, Bulgaria and Romania. But unlike Bulgaria, Romania looks likely to receive only a warning that it should improve its anti-corruption methods. The corruption in Bulgaria reportedly occurred in none other than the agencies that channeled the EU money. (B92)