28th March 2008
The European Commission is set to invest millions of pounds into Bulgaria over the next five years, according to reports.

Some £207 million of the EU budget has been allocated to the Trans-national Programme for Cooperation for Southeast Europe, which Bulgaria will benefit from, Novinite reports.

Citing Bulgarian national radio reports, the news provider suggested that the country is one of 16 regions that will receive funding to help speed up socio-economic integration.

Grants awarded to Bulgaria and other beneficiaries will reportedly improve infrastructure relating to communications and transport, as well as work to boost entrepreneurship, environmental protection and applying new technologies.

In recent years, the country has seen a high influx on investment from foreign property buyers keen to purchase Bulgarian properties.

The Property24 website reports that the country has the fastest growing housing market in the world.

It claims that the third quarter of 2007 saw the Bulgarian property market expand by 30.6 per cent.

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