April 30 (SeeNews) - Bulgaria's Operational Programme Innovation and Competitiveness has cancelled two procedures for awarding grants to local companies and relocated the funds to new instruments aimed at helping small businesses cushion the blow from the coronavirus pandemic, the programme's managing authority said.
The two cancelled procedures are "Support for the introduction of innovation in enterprises" and "Establishment and Development of Regional Innovation Centres", the programme's managing authority said in a statement earlier this week.
After cancelling the two procedures, the managing authority announced a new 173 million levs ($96.3 million/88.5 million euro) programme, under which micro, small and medium-sized enterprises (MSMEs) can apply for grants of 3,000 levs to 10,000 levs, aimed at supporting those companies pay salaries, rent, etc.
Only companies with a decrease of at least 20% in their turnover in April compared to their average monthly turnover in 2019 will be eligible to apply for the programme.
(1 euro = 1.95583 levs)