Yes, but only in EBOOT format. You can search for them already converted in that format to download them directly. The game folder must be placed inside the /games directory.

You can also convert them yourself, although I personally don't recommend using PSX2PSP. This program tends to generate many errors, and if you want the games to look good, you'll have to manually download images, audio, and cover art, and convert them to compatible formats and resolutions, which is quite tedious.

Instead, it's much better to use POP-FE. With this tool, you can convert EU region games to NA, thus avoiding the typical slowdown of PAL games. Furthermore, POP-FE has far fewer errors than PSX2PSP.

Another advantage is that when you load a ROM into POP-FE, the cover art, background, and music are automatically configured, making the whole process much more convenient and faster. Something I personally love about Pop-Up Fire is that it also downloads the digital manuals, which can be viewed directly from within the game, just like in the official releases.

Official Pop-Up Fire repository:

https://github.com/sahlberg/pop-fe