site.btaEC Approves Bulgaria's OP Innovations and Competitiveness for 2014-2020

EC Approves Bulgaria's OP Innovations and Competitiveness for 2014-2020

Brussels, March 16 (BTA) - The European Commission approved
Bulgaria's Operational Programme (OP) Innovations and
Competitiveness for 2014-2020. About 1,390 million euro will be
invested in the development of the Bulgarian economy, of which
1,180 million euro come from the European Regional Development
Fund (ERDF), BTA learned from the EC.

The programme aims to boost economic growth and increase
productivity, above all of small and medium-sized enterprises
(SMEs). Special attention is paid to cooperation between
business and research networks, and to enhancing
entrepreneurship in Bulgaria. Financial instruments including
bank loans, guarantees and equity investments will play a key
role in achieving these objectives.

The programme will also support measures for more efficient use
of resources in the enterprises and for improving their energy
efficiency.

EC Vice President Kristalina Georgieva, who is responsible for
Budget and Human Resources, said SMEs are the largest employer
in Bulgaria and a key engine of the economy. The new programme
invests in their development and in job creation. She wished the
programme success and good results in the economy and the
Bulgarians' living conditions.

Regional Policy Commissioner Corina Cretu welcomed the approval
of the programme and said she was glad that Bulgaria was
focusing its efforts on the SMEs' competitiveness. This package
of investments will help Bulgarian companies improve their
competitiveness, become more oriented towards innovations and
thus achieve the EU objectives of smart sustainable growth.

The expected key results are to:

- support more than 9,000 enterprises through grants and
financial instruments;
- mobilize over 1,000 million euro in private investments;
- increase the proportion of innovative enterprises;
- boost the SMEs' productivity;
- contribute to cuts in energy consumption in the economy.

Context
Budget of OP Innovations and Competitiveness

Total budget: 1,390,135,903 euro
From the ERDF: 1,181,615,516 euro

Key priorities:

- Technological development and innovations: 250 million euro
from the ERDF (21.24 per cent of the budget);
- Entrepreneurship and capacity for SME growth: 593 million euro
from the ERDF (50.17 per cent of the budget);
- Energy and resource efficiency of enterprises: 264 million
euro from the ERDF (22.35 per cent of the budget);
- Elimination of obstacles to the security of supplies: 38.2
million euro from the ERDF (3.24 per cent of the budget);
- Technical assistance: 35.4 million euro from the ERDF (3 per
cent of the budget).

The first invitations for proposals under the programme are
expected to be announced in 2015.