The capital fund for recovery and development of the European Investment Fund (EIF) will support Bulgarian business with the amount of BGN 360 million.
This was announced by the press center of the Ministry of Innovation and Growth.
The partnership of the Ministry and EIF is another opportunity for our country to be a leader in the creation and development of innovations in the region. This was stated by the Minister of Innovation and Growth, Milena Stoicheva, during the presentation of the new Capital Fund for Reconstruction and Development.
In December 2022, the Ministry of Innovation assigned the Investment Fund the implementation of three equity financial instruments from the National Recovery and Sustainability Plan for BGN 360 million. The funds will reach the Bulgarian companies through the newly created Capital Fund.
“The Ministry of Innovation and Growth is developing our country as a place that is conducive to creating innovations and recognizing new business models. We bring to the fore the entrepreneurial mindset and approach and are focused on supporting start-up companies,” emphasized Minister Stoicheva.
According to her, through the Capital Fund, the entrepreneurial and startup ecosystem will be supported, which is another step in establishing Bulgaria as an attractive place for high-tech investments based on innovation.
The Fund’s three directions are economic growth, innovation and sustainable digital infrastructure. During the event, the EIF presented the financial instruments to support business. The funds are for overhead costs, materials, implementation of innovations, “green” solutions, digitization and transition to a digital economy for the benefit of Bulgarian companies, climate neutrality.
The event was also attended by the Deputy Minister of Innovation and Growth, Martin Gikov, as well as other representatives of the ministry and the European Investment Fund, the entrepreneurial and startup ecosystem, and business.