site.btaEuropean Commission Approves Bulgarian Programme for Competitiveness and Innovations in Enterprises

European Commission Approves Bulgarian Programme for Competitiveness and Innovations in Enterprises
European Commission Approves Bulgarian Programme for Competitiveness and Innovations in Enterprises
Photo: European Commission

The European Commission (EC) has approved Bulgaria's Programme for Competitiveness and Innovations in Enterprises which will disburse EUR 1.49 billion between 2021 and 2027, the Representation of the European Commission in Bulgaria said.

The programme provides targeted support for Bulgarian companies for tackling the main areas, which delay the transformation of the Bulgarian economy into an innovative, digital one, with low carbon emissions and efficient use of resources. More than 85 per cent of the Programme's budget, or EUR 1.28 billion, have been targeted at small and medium-sized services.

The main goals of the programme are to achieve a smart and sustainable growth of the Bulgarian economy, as well as an industrial and digital transformation of the country. Other priorities include developing and boosting the capacity for research and innovation and introduction of advanced technologies; boosting sustainable growth, opening jobs, globalization and competitiveness and small and medium-sized enterprises; guaranteeing benefits of the digital transition; a transition to circular and energy efficient economy. 

Under the programme the activities which will be supported are: support for the innovations of startup and fast-developing enterprises in the area of high-tech industries, boosting digitalization, including guaranteeing cyber security and development of technologies, necessary for the transition to Industry 4.0; support for the introducing of low-carbon and energy efficient technologies; certification of energy management systems and incentives for RES; assistance for the SMES in introducing technologies for efficient use of natural resources, increasing the share of recycling, upgrading technologies for waste management and encouragement of partnerships between partnerships and the exchange of good practices. 

Some 35% of the Programme's budget will be implemented through financial instruments such as bank loan guarantees and capital investments at all stages of the SME development. This will guarantee a more efficient and sustainable use of the EU resources in support of projects which generate revenue and savings.

On Monday, the Commission approved the Transport Connectivity Programme, the first large infrastructure in the current programme period. The EC will allocate EUR 1.61 billion, earmarked for investments promoting the use of environmental kinds of transport and alternative fuels. This will also improve the quality of road, rail and maritime infrastructure and will help to reduce the harmful impact of transport on the environment.

/PP/

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By 10:50 on 08.12.2022 Today`s news

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