Small and Medium
Entreprise Fund
Strengthening Economic Diversification in the Krumovgrad Municipality
The idea of a fund to support business development came to life in May 2015 when DPM and the Krumovgrad Municipality signed a Memorandum of Understanding. Both parties agreed to combine their efforts and act as partners to promote sustainable benefits for the residents of the municipality through cooperation in economic and social development, small and medium business development, healthcare, and education.
In April 2019, the Krumovgrad Micro, Small and Medium-Size Enterprise Support Fund Association was established with the unique mission of helping residents of the municipality of Krumovgrad start or develop businesses independent of the mining industry. DPM provided a total grant budget of US$5 million for the SME financing facility, along with technical expertise through its contractor Smart A Group and preferential credit lines through UBB Bank.
Impact of the Micro, Small, Medium-Sized Enterprise Support Fund
89
Supported projects
173
New jobs created
8 M BGN
(US$5 million)
In grants
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The Krumovgrad SME financing facility supports:
Sustainable economic development
of the municipality of Krumovgrad
Entrepreneurship and capacity development
of micro, small and medium businesses in the municipality
Competitiveness of local businesses,
efficiency and qualification of workforce, opening of new jobs outside mining
Development and implementation,
independently or in partnership, of new projects for regional infrastructure upgrade and development
