EBRD and EC sign agreement to provide €20 million for innovative businesses in Bulgaria, Latvia and Romania
The European Bank for Reconstruction and Development (EBRD) and the European Commission's DG Research and Innovation are providing support for innovative small and medium-sized businesses (SMEs) and mid-caps in Bulgaria, Latvia and Romania with a new €20 million pilot programme funded under Horizon 2020. An agreement to this effect was signed in Brussels on 2 October 2018, providing a package of finance, advisory support and measures to promote green technologies.
Carlos Moedas, EU Commissioner for Research, Science and Innovation said: "This exciting new partnership with the EBRD allows us to boost finance for innovation in SMEs in countries where there are investment gaps in the field of innovation. Our joint efforts will give a boost to the economies of Latvia, Romania and Bulgaria, and to their competitiveness and growth." Under Horizon 2020, the EU had already invested close to €65 million in Bulgaria, around €50 million in Latvia and €119.8 million in Romania in grants by the end of September 2018.
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