site.btaInnovation Minister: BGN 260 Mln Available for Technological Modernization under Recovery Plan

Innovation and Growth Minister Alexander Pulev Saturday talked with the Regional Governors of Pernik and Blagoevgrad about BGN 260 million in financing available for technological modernization under the Recovery and Resilience Plan. This is the first procedure launched by his Ministry.

Pulev said the Innovation and Growth Ministry will support the most vulnerable segment of the business community - micro, small and medium-sized businesses - with a total of BGN 735 million. He held separate meetings with Regional Governors Lyudmil Veselinov of Pernik and Nikolay Shushkov of Blagoevgrad, attended by business representatives.

Companies operating in four sectors are eligible for financing: manufacturing; water and sewerage services, waste management and remediation; information and communication; and telecommunications, professional and scientific activities. The deadline for applications is September 21.

One more procedure under the Recovery and Resilience Plan will open by the end of August with BGN 30 million available for innovative IT solutions, including cyber security.

Another two procedures will be launched by the year's end. One of them will provide BGN 200 million to SMEs for investments in photovoltaics and local battery storage systems. The other will make available some BGN 120 million for R&D and intellectual property.

Pulev said the caretaker cabinet sets a priority on offering micro, small and medium-sized businesses all the necessary instruments.

Pernik Region (Western Bulgaria) has 5,500 registered businesses, of which more than 97% employ up to nine people, said Pulev, stressing that the programmes are intended for precisely such companies.

Blagoevgrad Region (Southwestern Bulgaria) has 21,000 registered companies, of which 94% are in the micro business segment, with up to nine employees.