Bulgaria to allocate 113.2 mln euro in EU funds to coronavirus-hit SMEs

Bulgaria to allocate 113.2 mln euro in EU funds to coronavirus-hit SMEs

Bulgaria's government said that it will allocate 211.4 million levs ($136.7/113.2 million euro) of funding made available to the country under the EU's operational programme Innovations and Competitiveness to support for local small and medium-sized enterprises (SMEs) affected by the coronavirus pandemic.

The funding should go to provide working capital to SMEs hit by the pandemic, the government said in a statement after its weekly meeting on Wednesday.

At the end of January, the government extended the state of epidemic emergency introduced over the COVID-19 pandemic until the end of April.

The country started reopening schools, gyms, sports halls and shopping malls as of February. Restaurants, bars and night clubs are expected to open again on March 1.

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