An agreement to provide comprehensive services in support of businesses in Northern Bulgaria was recently signed between the Bulgarian Small and Medium Enterprises Promotion Agency (BSMEPA) and the International Bank for Reconstruction and Development, part of the World Bank Group. The goal is to enhance the competitiveness, development, and modernization of small and medium-sized enterprises (SMEs) in the region.

Goals and Benefits for SMEs in Northern Bulgaria

The agreement foresees the provision of various services and information related to financing, business development, market presence, digitalization, innovation implementation, and more. Through its implementation, companies from different economic sectors are expected to be supported, improving the business environment and reducing regional disparities.

Support for SMEs in the Ruse Region

Ruse, as an industrial and logistics hub of Northern Bulgaria, will benefit from the services offered under the agreement. Local enterprises will gain access to consultations, training, and financing information, which will assist their development and competitiveness.

Vision for Sustainable Economic Growth

The signing ceremony at the Council of Ministers was attended by Deputy Prime Minister and Minister of Innovation and Growth Tomislav Donchev, Minister of Education Krasimir Valchev, World Bank Vice President for Europe and Central Asia Antonella Bassani, and BSMEPA Executive Director Boyko Takov.

Tomislav Donchev emphasized the importance of investing in education, innovation, and the quality of human capital to improve Bulgaria’s economic performance. Antonella Bassani expressed her expectation for joint work that will support Bulgaria’s efforts to create better opportunities for people and businesses. Boyko Takov noted that the agreement will provide opportunities to assist companies from Northern Bulgaria in accelerating their business growth.

This partnership between the BSMEPA and the World Bank is part of broader efforts to promote economic development in Northern Bulgaria and provide support to SMEs in the region.

Source: BSMEPA

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