January 9 (SeeNews) - Bulgarian micro, small and medium enterprises (MSMEs) will be able to apply for total grants of over 1.2 billion levs ($655.8 million/613.6 million euro) in the first half of 2023, the innovation and growth ministry said.
The financing will be made available under the mechanisms of Bulgaria's EU-backed national Recovery and Resilience Plan (RRP) and two operational programmes for the 2021-2027 period - the Innovation and Competitiveness programme and the programme for Scientific Research, Innovations and Digitalisation for Intelligent Transformation, the ministry said in a press release over the weekend.
Bulgarian companies will be able to seek financing under seven application procedures for research and development (R&D) and intellectual property projects as well as for projects to develop and implement technology innovations, to install solar photovoltaic systems and energy storage batteries, to develop digital and innovation hubs or to expand industrial zones across the country.
Bulgarian entrepreneurs will also have access to one billion levs in equity financial instruments, according to the statement. These will be supported by 550 million levs in competitiveness and innovation grants, 120 million levs in scientific research and digital innovations grants and 360 million levs from the RRP under an agreement with the European Investment Fund. The investment tools, unveiled in September 2022, will be unlocked through a partnership between the Bulgarian Stock Exchange, the Bulgarian Development Bank and private investors.
(1 euro = 1.95583 levs)