Small firms to gain easier access to land

With the aim to provide access to the means provided by OP Innovations and Competitiveness to a larger number of small and medium enterprises, the EC decided these means to be no longer provided in the form of direct and gratuitous help, but in the form of guarantees for risk. In this way EUR 100 million from the means already allotted to Bulgaria, will now be re-directed to a new financial instrument. They will be used for banking guarantees, thanks to which the businessmen involved in the matter will be able to receive between 400 and 600 million euro as new loans from the banks with a lower loan interest. This programme is part of the efforts of the European Commission to encourage EU member states to use more financial instruments to a greater effect from the European funding envisaged for small and medium companies, as they are the ones that create over 70% of jobs in this country.

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