European Commission approves Bulgaria's 79 mln euro MSME support scheme

European Commission approves Bulgaria's 79 mln euro MSME support scheme

The European Commission said that it has approved Bulgaria's 79 million euro ($95.9 million) scheme in support of support micro, small, and medium enterprises affected by the coronavirus outbreak.

The scheme, which will be co-financed by the European Regional Development Fund, will support companies with activities suspended or limited by governmental restrictive measures, the Commission said in a statement on Wednesday.

The support will take the form of a grant equal to between 10% and 20% of the company's turnover in the same period of last year, but no more than 150,000 levs.

The support will help the beneficiaries to cover part of their operating costs and support activities necessary to overcome the shortage of funds or lack of liquidity resulting from the coronavirus outbreak.

The scheme was approved under the State aid Temporary Framework.

 

Cookies Preferences
Choose Type of Cookies You Accept Using


These cookies are required for the website to run and cannot be switched off. Such cookie are only set in response to actions made by you such as language, currency, login session, privacy preferences. You can set your browser to block these cookies but our site may not work then.


These cookies allow us to measure visitors traffic and see traffic sources by collecting information in data sets. They also help us understand which products and actions are more popular than others.


These cookies are usually set by our marketing and advertising partners. They may be used by them to build a profile of your interest and later show you relevant ads. If you do not allow these cookies you will not experience targeted ads for your interests.