Bulgaria to Inject Over EUR 1 bln in Businesses

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Bulgaria's Innovation Ministry said on Wednesday it will invest over BGN 1 billion (EUR 511,290) in local companies in the first half of 2023, with a further BGN 1 billion in equity investments secured for the next three years, according to Seenews.com.

By April, seven funding programs will be made available to micro-, small, and medium-sized enterprises (MSMEs) to support the development of innovations, intellectual property, photovoltaic systems, batteries for local energy storage, digital and innovation hubs, and industrial zones.

The amount of BGN 1 billion in equity instruments for businesses secured by the ministry for the next three years include BGN 550 million from the EU's structural funds and BGN 360 million managed by the European Investment Fund. Some BGN 120 million will be used for technology transfers.

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