EC approves EUR 26.5 mln in state aid for "Bulgarian Posts"

The European Commission on May 16 announced that it has approved EUR 26.5 million in state aid for “Bulgarian Posts” company.

The aid will take the form of a loan. Bulgaria has committed to ensure that the loan will be repaid after six months or that “Bulgarian Posts” will submit a restructuring plan to make the company viable in the long term.

Such possible restructuring will be subject to assessment and approval by the Commission. The aid is to be used until the end of October to continue to provide services, including the payment of pensions.