site.btaGovernment Unveils New Procedure in Support of Small Businesses in Processing Industry

The government unveiled Tuesday a new procedure for supporting small businesses in processing industry. Aiming to help small and mid-sized companies to recover by improving their energy efficiency, it has a budget of 136 million leva provided by the EU-backed Operational Programme Innovations and Competitiveness.

"The entire Europe is going through hard times of global inflation, war and economic crisis, and the Innovation and Growth Ministry is working to support Bulgarian companies as they struggle on the path of sustainable development," Innovation and Growth Minister Daniel Lorer said as he announced the new aid procedure.

He added that SMEs in the processing industry took a severe blow from the skyrocketing energy prices.

The projects that the programme will support, will be required to have 50% of own financing. "In this way we will be able to support investment projects of more companies," said the Minister.

Project proposals will be accepted between May 3 and 23. Potential applicants have 11 workdays to prepare their projects and documents.

Funding from this programme can be used for purchase of machines, equipment and systems for improving energy efficiency. The approved projects will have to be completed within ten months from the signing of the financing agreement.

Lorer that his Ministry will get 1.3 billion leva from the National Recovery and Resilience Plan for supporting Bulgarian businesses. The planning for a part of the funding has reached an advanced stage and it will be available for the businesses to use in late June.
 
 

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By 04:03 on 10.01.2025 Today`s news

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