site.bta Bulgarian Development Bank to Support SMEs' Digitalization, Innovation Implementation

Small and medium-sized enterprises in Bulgaria will be eligible to borrow up to EUR 2 million repayable within 12 years from the Bulgarian Development Bank to digitalize their operation and implement innovation. The low-interest financial support will be guaranteed by the European Investment Fund under the InvestEU Programme, the bank said on Thursday.

The funding is earmarked for companies implementing innovations and digital technologies or companies engaging in research and development. Assistance will also be provided to entrepreneurs who develop new business models through digitalization, implement innovative products, or invest in artificial intelligence, drones and robotics.

SMEs can apply for investment and working capital loans, including performance guarantees.

The InvestEU Programme provides key long-term funding to support the sustainable development of the EU. The Programme mobilizes private investment for the attainment of priority objectives such as the Green Deal and the digital transformation.