site.btaCouncil of Ministers Approves Additional Expenses under 2023 Ministry of Innovation and Growth Budget

The Council of Ministers adopted a Decree approving additional expenses under the budget of the Ministry of Innovation and Growth for 2023.

The additional financing in the amount of up to BGN 1,633,145 will provideBulgaria's full contribution to the NATO Innovation Fund for 2023.

The NATO Innovation Fund was established to provide investment in participating countries. It is financed by the participants on a voluntary basis and has a duration of 15 years. The fund is structured to provide investments in high-tech startups that have potential for security and defence applications.

The Council of Ministers also adopted another Decree approving additional expenses under the budget of the Ministry of Innovation and Growth for 2023, with which it allocates BGN 982,128 (EUR 502,153.92) to increase the contribution of the Republic of Bulgaria to the European Space Agency. The Republic of Bulgaria implements cooperation agreements with ESA. Their goal is to increase the readiness of the Bulgarian space sector for full participation in the space activities and initiatives of the European Union, implemented by ESA, as well as for the application of space technologies in the member states.