Financial and business news from Bulgaria

As of today, the Agriculture Fund accepts applications under COVID 3

From 26 October to 13 November 2020, applications for support under sub-measure 21.3 “Extraordinary temporary support for small and medium-sized enterprises and recognised producer groups and organisations COVID 3" of the Rural Development Programme 2014-2020 shall be opened.
The application is with an application in the Regional Directorates of “Agriculture” at the location of the enterprise or at the address of the registered office of the legal entity.

Submeasure COVID 3 has a budget of over BGN 7 million (BGN 7 321 096), the Ministry of Agriculture, Food and Forestry specified.

Eligible for support under sub-measure COVID 3 are micro, small or medium-sized enterprises under the Law on small and medium-sized enterprises carrying out processing of agricultural products listed in Annex I to the TFEU or cotton, excluding fishery products, as well as groups and organisations to producers carrying out the processing, marketing or development of agricultural products.

Financial assistance under submeasure COVID 3 amounts to 5% of the value of the declared revenue from the realization of processed agricultural products for 2019 or for a person employed in the enterprise and is paid in the form of a lump sum of BGN 270 per employee, equivalent to the average number of staff according to data from the NRA. A leading condition under COVID 3 is that subsidies should be granted in cases where the enterprise has seen a decrease in revenue from the sale of processed agricultural products by at least 20%.

The ceiling for financial assistance to enterprises under the sub-measure is up to EUR 50 thousand.