Ljubljana, 18 September (STA) - The European Regional Development Fund (ERDF) will allocate EUR 65 million via Slovenia's state-run export and development SID Bank for financial instruments to mitigate ramifications of the Covid-19 epidemic. The funds will promote small and mid-sized businesses, said the Office for Development and European Cohesion Policy on Friday.
The funds will moreover go to support research, development and innovation, said the government office, which has issued a decree on support for financial instruments to mitigate the economic consequences of Covid-19 in the 2020-2023 period. The ERDF funds will be managed by SID Bank.
The financial instruments will aim to lessen the severity of the impact of both the economic and health crises, and to promote growth, development, investments as well as serve as operating aid via debt financing.
The support designed to boost R&D is intended for big as well as small and mid-sized companies to help them overcome the corona crisis and maintain as well as increase the share of innovation-active companies as part of Slovenia's smart specialisation strategy priorities.