In Bulgaria, the Post-Privatisation Fund was neither efficient nor effective (low level of equity investments opposed to high management costs).In Romania, the Phare contribution did not clearly add value to the improvement of the regulatory infrastructure in the electricity market.
Bulgaarias ei olnud erastamisjärgne fond ei tõhus ega mõjus (madal aktsiakapitali investeeringute tase ning kõrged halduskulud).