EBRD receives EU funds for green innovation in Bulgaria, Latvia, Romania
The European Bank for Reconstruction and Development (EBRD) has received funding from the European Commission (EC) Horizon 2020 Programme to promote green innovation in Bulgaria, Latvia and Romania.
The funding comes as part of a broader, €20 million effort by the EC and the EBRD to support innovative, small- and medium-sized enterprises (SMEs) and mid-cap companies in the three countries, which harbor significant opportunities for green investment.
Under the EBRD’s Green Innovation Programme (GIP) the new funds from Horizon 2020 will be used to provide:
- Technical assistance to develop innovation plans with support from EBRD-selected experts
- Implementation support for innovation plans via dedicated staff or consultants
- Incentive grants to complement EBRD investments in green projects.
Eligible companies in Bulgaria, Latvia and Romania may receive up to €200,000 in technical assistance and incentive grants of up to €500,000, depending on the opportunity.
The Horizon 2020 funds complement earlier GIP financing from the TaiwanBusiness EBRD Technical Cooperation Fund to offer technical assistance for green projects in the 12 EU Member States in which the EBRD operates.
The GIP fosters research and development in technologies, processes and business operations that help to mitigate climate change, promote circular economies and reduce pollution.
Examples of supported activities include technical development of new products, machines and software; design services, prototyping and testing; environmental studies; innovative marketing; and assistance with intellectual property rights.
The EBRD’s collaboration with Horizon 2020 reflects the Bank’s commitment building competitive, resilient and green economies in its countries of operations. To date, the Bank has invested around €3.8 billion in Bulgaria, €667 million in Latvia and more than €8.2 billion in Romania.