Coronavirus response: €511 million from EU Cohesion policy to support Bulgarian economy

Daily News 26 / 11 / 2020

Economy - published on 30 November 2020

Source: European Commission Spokesperson’s Service

The Commission has approved an amendment to the Bulgarian Operational Programme ‘Innovation and Competitiveness’, allowing the mobilisation of €511 million from the European Regional
Development Fund
and the Cohesion Fund
to help Bulgarian economy in dealing with the adverse effects of the coronavirus crisis. This financial support includes grants for working capital to micro, small and medium sized enterprises,
equity investments and loan guarantees. Commissioner for Cohesion and Reforms, Elisa Ferreira, said: “Bulgaria was one of the first Member States to take advantage of the
Coronavirus Response Investment Initiative. These measures have a short-term objective of crisis relief but Bulgaria will also continue to benefit from additional EU support for crisis repair to
allow its economic recovery”. Modifying this programme is possible thanks to the exceptional flexibility provided under the Coronavirus
Response Investment Initiative
(CRII) and
Coronavirus Response Investment Initiative Plus
(CRII+), which allows Member States to use Cohesion policy funding to support the most exposed sectors to the pandemic, such as healthcare, SMEs
and labour markets. Further details are available
and on the dedicated Coronavirus Dashboard.

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