Bulgarian Cabinet Eases Access to Funding for Young Entrepreneurs

Business | March 9, 2016, Wednesday // 12:57
Bulgaria: Bulgarian Cabinet Eases Access to Funding for Young Entrepreneurs The regular meeting of the Bulgarian Council of Minister on Wednesday. Photo: BGNES

The Bulgarian government took steps to ease the access to funding for youth wishing to start new business.

The government approved at its regular meeting on Wednesday changes to the Human Resources Development Operational Programme for the 2014-2020 operational programme, which are aimed at improving access to funding for youth interested in starting their own business.

This will be achieved by the inclusion of an additional financial instrument under the Youth Employment Initiative, the press service of the government informs.

Its long-term application is expected to increase the number of new jobs created in newly-registered enterprises and to attract additional financial resources.

With the changes to the programme, the “Manager of financial instruments in Bulgaria fund” company is included among the list of possible beneficiaries.

The state company was established with the aim to manage the financial instruments available under all operational programmes in Bulgaria.

The changes also allow the inclusion of the National Social Security Institute (NOI) to the list of possible beneficiaries.

The inclusion of NOI is justified with the forthcoming reform aimed at improving the expertise and the working ability of disabled people in working age.

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Tags: Bulgaria, youth, business, funding
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