The government concludes an agreement with the European Investment Fund under the Recovery and Sustainability Plan

The Council of Ministers approved the conclusion of an agreement with the European Investment Fund under the Recovery and Sustainability Plan, the government press service announced today.

The Council of Ministers adopted a decision approving the draft Agreement between the Government of Bulgaria and the European Investment Fund (EIF).

The agreement is for the financing of capital operations for 180 million euros under the Recovery and Resilience Mechanism. It regulates the implementation and management of capital operations supported in Bulgaria under the Mechanism.

The agreement foresees the implementation of three capital instruments with a total value of EUR 180 million, which the EIF will manage and implement in the areas of innovation, growth and climate neutrality and digital transformation.

The investments that Bulgaria has committed to implement in the form of capital instruments are part of Investment 2

"Economic Transformation Program" within the framework of Component 3 "Intelligent Industry" of the PSU. The amount of EUR 180 million is the total amount of funds foreseen for capital operations under the the Recovery and Sustainability Plan (RSP) and is expected to support at least 57 final recipients.

The government authorized the Minister of Innovation and Growth to conduct the negotiations and sign the EIF support agreement. The capital instruments will be implemented by the EIF as a financial partner or also referred to as an implementation partner by directly providing funds under a financing agreement, which is also accepted as a basis for negotiations between the parties, the Council of Ministers announced.