Bulgaria: EUR 1.39 billion Innovation and Competiveness Programme

money-euroThe European Commission has adopted the 2014-2020 Operational Programme for “Innovation and Competiveness” in Bulgaria, worth around EUR 1.39 billion of investments to develop the Bulgarian economy, of which EUR 1.18 billion coming from the European Regional Development Fund (ERDF).
The programme aims to boost economic growth and increase productivity, mainly for small and medium-sized enterprises (SMEs). Special focus is given to connecting business with research networks and enhancing entrepreneurial activity in Bulgaria. Financial instruments such as bank loan guarantees and equity investments will be playing a key role in achieving those objectives. In addition, the programme will also support measures to improve efficient use of resources in companies and increase their energy efficiency.
Amoung main expected results is the mobilisation of more than EUR 1 billion of private investment, increase the share of innovative enterprises and contribution to reducing the energy consumption of the economy.

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