site.btaEC Approves State Aid Scheme for Bulgarian SMEs Affected by Coronavirus Outbreak

January 20 (BTA) - The European Commission (EC) said on Wednesday that it has approved a 79 million euro (approximately 156 million leva) Bulgarian scheme to support micro, small, and medium enterprises affected by the coronavirus outbreak.

The scheme, which will be co-financed by the European Regional Development Fund, will be accessible to enterprises active in certain sectors and meeting certain requirements defined by Bulgaria, which have had their activities suspended or limited by governmental restrictive measures to limit the spread of the virus. The amount of grant each beneficiary may receive will be calculated by comparing its turnover (excluding VAT) during the affected period with the same period of the previous year (or the turnover for October 2020, for beneficiaries opened after 1 January 2020).

The grant will amount to either 10 per cent or 20 per cent of that turnover, depending on the beneficiary's sector of activity, up to a maximum of 150 000 leva.

The support will help the beneficiaries to cover part of their operating costs and support activities necessary to overcome the shortage of funds or lack of liquidity resulting from the coronavirus outbreak. NV/PP


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