Financial and business news from Bulgaria

70 million BGN from OPE are redirected to small and medium businesses because of COVID-19

The Council of Ministers adopted a decision amending the Operational Programme “Environment 2014 - 2020”. (OPE), co-financed by the European Regional Development Fund (ERDF), the Cohesion Fund (CF) of the European Union and the state budget, the Cabinet press office said.
With the approved amendment to the programme, BGN 69 853,000 are redirected to the Operational Programme “Innovation and Competitiveness 2014-2020”, of which BGN 49.5 million under the ERDF and BGN 20.4 million under the CF.

The rerouting is according to a decision taken at national level on reallocating funds from the ESI Funds between operational programmes in support of measures to minimize the negative effects of the spread of COVID-19, reminded in the press release. This will help the process of providing support for the Bulgarian economy in terms of small and medium-sized businesses to ensure the subsequent exit of the companies from the current crisis with minimal shocks and under the most favourable conditions, both for workers and and for their employers.

The financing of nearly BGN 70 million will be provided by a non-contracted or saved resources under the operational programme so far.

The approved amendment also transferred financial resources between priority axes, resulting in updated financial tables and results and performance indicators values.

See what else the MS decided today