site.btaGovernment Expands SME Support under JEREMIE Initiative

The Council of Ministers on Thursday approved the framework and financial agreements between  Bulgaria and the European Investment Fund, providing that Bulgarian businesses will receive additional support through resources recovered from a financial instrument under the National Strategy for Small and Medium-Sized Enterprises. The agreements are to be subsequently ratified by the National Assembly.

The Ministry of Innovation and Growth will entrust the management of EUR 48.35 million recovered under the operational programme to the European Investment Fund. The funds will be added to the recycled resources from the JEREMIE initiative, bringing the total to EUR 180 million.

According to an analysis of market conditions, continued public funding for innovative companies in Bulgaria is necessary. The support to small and medium-sized enterprises and mid-cap companies will go through financial instruments and the JEREMIE initiative. The assistance will be fully aligned with the new Investment Strategy of the JEREMIE Bulgaria Holding Fund.