Bulgaria mulls additional EUR 10.2 mln for COVID-hit SMEs

Ecosystem

Graphic by GrAl / Shutterstock.com

Bulgaria is considering providing a further BGN 20 million (EUR 10.2 mln) in assistance to local small- and medium-sized enterprises affected by the coronavirus crisis, Economy Minister Emil Karanikolov told Nova TV, the Sofia News Agency reported. 

Graphic by GrAl / Shutterstock.com

The financial assistance will come on top of BGN 173 mln in joint funding for the purpose provided by the EU and Bulgaria last month, Sofia News Agency reported on May 15.

More than 16,500 projects worth a total of BGN 136 mln have been submitted under the grant measure for SMEs, said Deputy Prime Minister Tomislav Donchev. Applications continue to be accepted, he added.

In April, the European Regional Development Fund (ERDF) said that Bulgarian SMEs impacted by the crisis will be granted a total of BGN 173 mln, some BGN 147 mln through ERDF’s Innovations and Competitiveness 2014-2020 program and BGN 25.9 mln by the Bulgarian state.

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