The European Commission said on June 6 that it has approved 77 million euro in state aid for a Bulgarian programme aimed at supporting investment manufacturing activities by small and medium-sized enterprises (SMEs) in high unemployment areas.
The Commission said that the scheme was originally approved in March 2008, prolonged in November 2020, and it expired in December 2021.
In its current iteration, the programme is set to run until 2027, with the state aid taking the form of a corporate income tax exemption to support initial investment projects by SMEs.
It will target municipalities with unemployment rates that are at least 25 per cent higher than the national average.
The maximum amount of aid will cover up to half of the eligible investment costs, with the exception of the south-western Bulgaria EU funds region, where it will be set at 25 per cent of eligible investment costs.
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