site.btaEuropean Commission Extends EUR 511 Mln in Support of Bulgaria's Economy

November 26 (BTA correspondent Nikolay Jeliazkov) - The European Commission said here on Thursday that it has approved an amendment to the Bulgarian Operational Programme Innovation and Competitiveness, allowing the mobilisation of 511 million euro to help the Bulgarian economy in dealing with the adverse effects of the coronavirus crisis.

This financial support includes grants for working capital to micro, small and medium sized enterprises, equity investments and loan guarantees. Modifying this programme allows Member States to use Cohesion policy funding to support the most exposed sectors to the pandemic, such as healthcare, SMEs and labour markets.

In 2014-2020, the EU invests in Bulgaria 7.4 billion euro through cohesion policy.
Thanks to the Coronavirus Response Investment Initiative, so far 750 million euro are being mobilised to tackle the current crisis and its effects, the Commission adds.

Twenty million euro have been provided to help this country's health sector better respond to the emergency by purchasing new top-class medical equipment and delivering life-saving medicines and personal protective equipment, 317 ventilators, over 2 million faces masks, 177,000 tests, 140,000 consumables, beds, specialized portable unit, specialized equipment for COVID-19 laboratories, personal protective equipment and clothes. Some 88.5 million euro have been earmarked for working capital for micro and small companies, including the self-employed; 327 million euro grants in support of small and medium sized enterprises for working capital, investments and special loan guarantee schemes; and 150 million euro for small and medium-sized enterprises in the form of equity and quasi-equity investments.

The Commission has approved 130 million euro for temporary employment schemes and subsidised employment; 30 million euro for compensations and hiring up to 14,000 medical and non-medical staff and covering the costs of training, transport, meals and personal protective equipment; and 23 million euro for additional assistance to 30,000 elderly and vulnerable people

In 2014-2020, 71 million euro have been invested to enhance emergency healthcare services in Bulgaria under the EU Cohesion Policy, including the modernisation of 237 emergency care facilities and the purchase of 400 new ambulances, the Commission recalled. RY/PP



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