EC approves Bulgaria's 15 mln euro scheme to support coach companies

EC approves Bulgaria's 15 mln euro scheme to support coach companies

The European Commission said on Tuesday that it has approved Bulgaria's 15 million euro ($18 million) scheme to support micro, small and medium-sized coach companies affected by the coronavirus outbreak.

The aim of the measure is to mitigate the sudden liquidity shortages that these companies are facing through direct grants, the Commission said in a statement.

The grants will partially cover the operating costs of the transport of passengers by coach or bus from February 1, 2020 until six months after the entry into force of the grant agreement concluded between the beneficiary and the transport ministry.

The scheme was approved under the State aid Temporary Framework.

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