Bulgaria’s Council of Ministers approved a new measure of BGN 30 million in support of the tourism sector

Bulgaria’s Council of Ministers approved a new measure of BGN 30 million in support of the tourism sector

The Council of Ministers adopted a Decree on determining the conditions, criteria, procedure and amount of funds under a grant scheme to support the tourism sector to compensate for losses incurred directly and / or indirectly by restrictions on the activities of enterprises due to anti-epidemic measures.

The measure is being developed as a state aid scheme in the form of grants for companies in the tourism sector experiencing liquidity difficulties due to COVID-19. The aid administrator is the Ministry of Tourism.

The funds under the new state aid scheme will be paid after receiving a positive decision from the European Commission on the compatibility of the aid with the internal market on the basis of Art. 107 (3) (b) of the Treaty on the Functioning of the EU.

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