The European Commission said on July 8 that it has approved a 1.5 million euro Bulgarian state aid scheme aimed at small and medium-sized enterprises (SMEs) active in the oil-bearing rose growing sector, affected by the coronavirus outbreak.
The funding would take the form of direct grants, with eligible beneficiaries to be compensated for losses incurred between March 2020 and December 2021, up to approximately 50 euro per hectare of roses, the EC said in a statement.
Between 500 and 1000 farming companies were expected to benefit from the scheme, which aimed to mitigate teh liquidity shortages faced by these companies due to the coronavirus outbreak and restrictions put in place by the government to limit the spread of the virus.
The Commission said that the measure was in line with the conditions set out in its temporary framework on state aid, as the grants would not exceed 225 000 euro per beneficiary and the scheme had a limited scope until December 31 2021.
For the rest of The Sofia Globe’s continuing coverage of the Covid-19 situation in Bulgaria, please click here.
The Sofia Globe’s coverage of the Covid-19 situation in Bulgaria is supported by the Embassies of Switzerland and Finland.
Please support independent journalism by clicking on the orange button below. For as little as three euro a month or the equivalent in other currencies, you can support The Sofia Globe via patreon.com and get access to exclusive subscriber-only content: