Bulgaria: New Business Grant Scheme Aimed at Middle Companies

Bulgaria’s state authorities have announced a new business grant scheme aimed at larger companies.  The minimum amount of grants will be BGN 30,000 (EUR 15,000) and the maximum – BGN 100,000. (EUR 51 thousand). The amount will be 1% of the company’s annual turnover for 2019.

A total of BGN 156 million (EUR 80 million) have been set aside under the measure. The funds have been provided from the budget of the operational programme Innovation and Competitiveness.  The aid is targeted at companies that have not benefited from another form of state support to retain their staff amidst the Covid-19 crisis.

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