State aid: Commission approves €88 million Bulgarian scheme to support micro and small companies affected by coronavirus outbreak

The European Commission has approved a €88 million (approximately BGN 173 million) scheme to support the Bulgarian micro and small companies in the context of the coronavirus outbreak. The scheme was approved under the State aid Temporary Framework adopted by the Commission on 19 March 2020, as amended on 3 April 2020 and 8 May 2020. The support measures available under the scheme will be to a large part co-financed by the European Regional Development Fund (€75 million). The support will take the form of grants. The purpose of the scheme is to address the liquidity needs of micro and small companies, including self-employed, and to help them to continue their activities during and after the outbreak. The scheme will be accessible to companies active in different sectors except agriculture, fisheries, aquaculture and forestry. It is estimated that approximately 17,300 micro and small enterprises will benefit from this support. The Commission found that the Bulgarian scheme is in line with the conditions set out in the Temporary Framework. The Commission concluded that the measure is necessary, appropriate and proportionate to remedy a serious disturbance in the economy of a Member State, in line with Article 107(3)(b) TFEU and the conditions set out in the Temporary Framework. On this basis, the Commission approved the measures under EU State aid rules. More information on the Temporary Framework and other actions taken by the Commission to address the economic impact of the coronavirus pandemic can be found here. The non-confidential version of the decision will be made available under the case number SA.57283 in the State aid register on the Commission’s competition website once any confidentiality issues have been resolved.