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EU will invest €1.18 billion of regional funds in Bulgaria for economic growth and support to SMEs
The European Commission has adopted the 2014-2020 Operational Programme for “Innovation and Competiveness” in Bulgaria, worth around €1.39 billion of investments to develop the Bulgarian economy, of which €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.
Main expected results: