EU OP Competitiveness: An EU grant of €150 mln will be transferred directly to the business sector

Next year, a total of €150 mln under the EU Operational Programme (OP) Competitiveness will be re-transferred directly for aiding financially the business sector from the institutional beneficiaries and from the setting up of a network for consulting services, announced the Ministry of Economy, Energy and Tourism. The funds will create a new financial product for granting low-interest loans worth € 300 mln for small and medium-sized enterprises. A total of €150 mln will be granted at zero interest and the same amount will be extended at market rates by the commercial banks involved in the lending scheme. The combination of both types of financial resources will make possible a substantial reduction in interest rates on loans to small and medium-sized enterprises, commented the Ministry of Economy, Energy and Tourism. So far, attracting private capital under OP Competitiveness has achieved a multiplying effect of around 2.25 times as €1 granted under the OP accounts for €2.25 of private capital. This was one of the main proposals of the Ministry of Traicho Traikov for amending the OP as of next year which was approved by the Monitoring Committee.

Via the application of financial engineering instruments, the focus will shift from the available EU grants to the actual financial needs of companies. These tools will also allow for the repeated use of resources, thus aiding an even greater number of enterprises.

At the beginning of next year, three new grant schemes for gratuitous funding under OP Competitiveness are due to be launched. The Monitoring Committee approved the Bulgaria Energy Efficiency for Competitive Industry Financing Facility (BEECIFF), which is implemented jointly with the EBRD at the value of €150 mln. It also approved the construction of technology parks worth €50 mln and the setting up and development of regional business incubators worth €10 mln.

Прочети цялата новина

Свързани новини: