21 Sep COVID-19: New measures in support of the business

New state aid will be available to the small and medium-sized enterprises in the field of tourism and bus transport to mitigate the negative impact of COVID-19 crisis. 

In the middle of September 2020, the Managing authority of Operational Program “Innovation and competitiveness” (OPIC) announced the start of the application campaign for proposals of projects in support of micro, small and medium-sized enterprises (SMEs) carrying out their business activity in the field of tourism and coach and bus services. The two grant procedureare expected to open for applicants within the coming weeks. Team-Building-Activities-Redbooth-v2

In particular, the grants will cover two support measures: 

  • Financial aid for SMEs, registered under the Tourism Act as tour operators or travel agents, which is designated to help them to overcome the negative impact of the COVID-19 pandemic, which will be managed by the Ministry of Tourism. The designated budget amounts to BGN 10,000,000 (EUR 5,000,000) 
  • Financial aid for SMEs providing coach and bus services to mitigate the negative economic consequences of COVID-19 through supporting scheme of the Ministry of Transport, Information Technology and Communications. The designated budget is BGN 30,000,000 (EUR 15,000,000). 

 

The objective of both measures to provide much-needed operating capital for the eligible SMEs to overcome the financial shortages or the lack of liquidity resulting from the COVID-19 pandemic.  The application requirements and the full package of documents are published at the website of the Managing authority and may amended until the start of the procedures 

Georgi Popov & Co. Law Firm has already assisted some of its clients in drafting and submitting the necessary documents to participate in the previous operational programs. If you are interested in applying that measures to your business, we can provide the necessary legal support.