Business projects worth €545 mln expected to be negotiated under OP Competitiveness by the end of the year

By the end of the year, we aim to launch negotiations for procedures worth €545 mln under Operational Programme (OP) Competitiveness, announced Minister of Economy, Energy and Tourism, Traicho Traikov during the weekend seminar.

So far, contracts totaling BGN 836 mln have been signed under OP Competitiveness. The beneficiaries were paid BGN 494.3 mln, while the vast majority of these amounts was negotiated and transferred after July 1, 2009. Currently, 71% of all lodged claims for payment have been satisfied, emphasised Minister Traikov.

At present, negotiations are underway with the European Commission for the provision of the additional €200 mln under the OP. This amount along with the borrowed €200 mln from banks should provide loans at a significant reduction of the interest rate for enterprises, specified the Ministry of Economy, Energy and Tourism. The idea is for the funds under OP Competitiveness to be granted at a zero interest rate to companies, while the combination with the extended bank loans should guarantee a reduction of the interest rates by 4-5%, stressed Deputy Minister, Evgeni Angelov.

Several days ago, an agreement was signed between the EIF (European Investment Fund) and five banks selected to serve the guarantee fund. Under the JEREMIE (Joint European Resources for Micro to Medium Enterprises) initiative, around BGN 50 mln were allocated. However, thanks to the borrowed bank resources, SMEs will be able to rely on a total of BGN 800 mln loans at preferential terms and conditions referring to lower interest rates and lower collateral.

In the autumn, four new procedures under OP Competitiveness are due to be opened, announced Mustafa Chaushov, MIET expert. For investments in the green industry, a total of €40 mln were projected. The maximum financial aid to be granted under this measure is BGN 4 mln. Companies eligible for this amount, must have at least BGN 5 mln in net revenue from sales realised over the last financial year. They will be able to purchase equipment for reducing the energy intensity of production or a more efficient use or recycling of waste.

Besides, small and medium-sized enterprises can rely on a total of €50 mln for technological upgrades. Their projects applying for funding must refer to the purchase of equipment, software or consulting services. In terms of the aiding of research and development activities of companies, €30 mln have been allocated. Only SMEs can apply for this amount. Universities, research institutes and laboratories will bid for project funding under the measure for the development of applied research in research organisations, for which a total of €10 mln have been projected.

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