EC approves 30M leva Bulgarian scheme to support tourism sector

Written by on January 17, 2022 in Bulgaria - Comments Off on EC approves 30M leva Bulgarian scheme to support tourism sector

The European Commission said on January 17 that it had approved a 30 million leva (15.3 million euro) Bulgarian scheme to support companies active in the tourism sector affected by the coronavirus pandemic.

The measure was approved under the State aid Temporary Framework, the Commission said.

Under the scheme, the aid will take the form of direct grants.

In order to be eligible, a company must have recorded a difference of at least 500 leva between its turnover (excluding VAT) in 2019 and its turnover (excluding VAT) in 2020, combined with any state aid received in 2020 and in 2021.

In addition, a company must have recorded a turnover (excluding VAT) higher than 500 leva in both 2018 and 2019.

The Commission said that the aim of the scheme is to help the beneficiaries address their liquidity needs and continue their activities during and after the pandemic.

The Commission found that the Bulgarian scheme is in line with the conditions set out in the Temporary Framework.

In particular, the aid will not exceed the equivalent of 2.3 million euro per beneficiary, and will be granted no later than June 30 2022.

The Commission concluded that the measure is necessary, appropriate and proportionate to remedy a serious disturbance in the economy of an EU member state, in line with the EU Treaty and the Temporary Framework.

(Photo: Lance Nelson of banskoblog.com)

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