site.btaInnovation Minister: Business to Get BGN 1.2 Bln under Two Programmes within Four Months

Addressing a Sofia conference on the Recovery and Resilience Plan organized by the 24 Chasa daily on Tuesday, Innovation and Growth Minister Alexander Pulev said the caretaker government had been working actively with the European Commission. As a result, two structural programmes had been approved within a few months, while none had been opened in August.

"The money is available and we are opening procedures under the two programmes, so that BGN 1.2 billion will be injected into the economy in three or four months, not just under the Recovery and Resilience Plan but under Operational Programmes Competitiveness and Innovations, and Research," Pulev said.

The caretaker cabinet was appointed on August 2.

"We have shown that the caretaker government is doing a good job as a team and is a cabinet of action, of acceleration. We have given a respite to businesses and individuals, and have shown that the government is working at full speed," he said. 

In February, the Innovation Ministry will announce the companies which will be financed under the Cybersecurity and ICT solutions scheme.

The economies of certain regions, such as Yambol and Razgrad, rely on one or two large enterprises. That is why, out of those BGN 1.2 billion, companies with up to 400 employees will get BGN 700 million in support. The remaining BGN 500 million will go to companies with up to 3,000 employees. "Thus we will reach out to nearly 99.9% of businesses in Bulgaria," Pulev said.

"It is very difficult for a family and a small company to find BGN 15,000 for investment. That is why we will look for bridge financing for households and small companies," the minister said.