August 13 (SeeNews) - The European Commission (EC) said that it will allocate an additional 120 million euro ($140.8 million) to operational programme Innovation and Competitiveness in Bulgaria in order to support the coronavirus recovery of small and medium-sized enterprises (SMEs) in the country under the REACT-EU mechanism.
It is estimated that some 2,600 SMEs should benefit from the support, the Commission said in a statement on Thursday.
REACT-EU is part of NextGenerationEU and provides 50.6 billion euro additional funding, in current prices, over the course of 2021 and 2022 to Cohesion policy programmes.
($ = 0.8521 euro)