site.btaEuropean Commission Okays EUR 77 Mln State Aid Grant for High Unemployment Areas in Bulgaria

European Commission Okays EUR 77 Mln State Aid Grant for High Unemployment Areas in Bulgaria
European Commission Okays EUR 77 Mln State Aid Grant for High Unemployment Areas in Bulgaria
The European Commission headquarters in Brussels (EU Photo)

The European Commission said on Tuesday that it has approved the reintroduction of a EUR 77 million Bulgarian regional aid scheme to support investments into manufacturing activities by small and medium-sized enterprises in high unemployment areas.

Under the scheme, the aid will take the form of a corporate income tax exemption to support initial investment projects by SMEs, such as setting up a new establishment, increasing the capacity of an existing establishment, product diversification or a fundamental change in the production process of an existing establishment.

The scheme targets Bulgaria’s municipalities with unemployment rates that are at least 25% higher than the national average. The maximum amount of aid per beneficiary will be 50% of the eligible investment costs, except for 25% in the municipalities in the Yugozapaden Planning Region, the Commission said.

/DS/

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By 15:06 on 28.03.2024 Today`s news

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