The Management Board of the Fund of Funds hosted a working meeting with Ms Andriana Sukova, Deputy Director-General at the European Commission Directorate-General for Employment, Social Affairs and Inclusion, responsible for European funds, just transition and social investments.
During the meeting, the parties discussed the opportunities for implementing financial instruments under the Just Transition Fund in support of the economic transformation of Kyustendil, Pernik and Stara Zagora regions. Particular focus was placed on the role of investments in fostering new economic activity, sustainable employment and skills development in regions affected by the transition towards a climate-neutral economy.
The discussion also covered the benefits of financial instruments in view of the adaptation and upskilling of the workforce in the affected regions, including through the promotion of investments with long-term economic and social impact. The Just Transition Fund is specifically aimed at supporting the regions and people most affected by the transition, including through the creation of new jobs, diversification of local economies and opportunities for reskilling.
Among the main topics discussed were also the prospects for financial instruments in the context of the next long-term European Union budget for the 2028–2034 period. The European Commission proposal envisages a more simplified and flexible framework for European financing, including through national and regional partnership plans designed to bring together key funds implemented by Member States and regions under a broader strategic framework.
The meeting also highlighted the role of the Fund of Funds as a specialised financial institution ensuring access to financing for enterprises and projects in sectors where traditional market mechanisms do not provide sufficient investment resources.
The discussion confirmed the importance of financial instruments as a long-term mechanism for directing investments towards regions, enterprises and people for whom the transition requires not only assistance, but also sustainable solutions for new economic activity, employment and skills.
