site.btaBGN 260 Mln Disbursed Under Recovery Plan's First Procedure

A set of 953 projects became the first to be approved for funding under the National Recovery and Resilience Plan. They will receive a total of BGN 260 million in EU grants, the Innovation and Growth Ministry reported on Tuesday. This closes the Plan's first procedure: Technological Upgrades, which was administrated by the ministry and targeted micro, small and medium-sized enterprises.

The largest portions of the sum go into the regions of Sofia (Sofia City Region and Sofia Region, 304 approved projects in aggregate), Plovdiv (145), Stara Zagora (54), Pazardzhik (38) and Ruse (49).

The projects were selected from among 2,423 proposals which sought a total of BGN 620 million in EU grants under the Plan. The bidding period was between July 22, 2022 and September 21, 2022. The rule is that a micro enterprise can receive up to BGN 180,000 from the EU, a small enterprise can get up to BGN 350,000, and a medium-sized enterprise up to BGN 700,000. The money is to be spent on new equipment, machines and computer software. Co-funding is up to 50%.