EU funding for mitigating the effects of the economic crisis due to the COVID-19 epidemic for the period 2020-2023 from financial instruments

Ljubljana, 18 September 2020 – Government Office for Development and European Cohesion Policy has issued a grant decision for financial instruments for mitigating the effects of the economic crisis due to the COVID-19 epidemic for the period 2020-2023. The available European Regional Development Fund financing in the amount of EUR 65 million will be managed by SID Bank through the Fund of Funds.   

Financial instruments in the form of debt financing will be used for mitigating the effects of the economic and public health crisis due to the COVID-19 epidemic and for promoting growth, development, investment and current operations of the target groups identified in the Fund of Funds investment strategy.

The available funding will be used for research, development and innovation (RDI) and small and medium-sized enterprises (SMEs). Financial instruments for RDI are intended for large companies and SMEs for mitigating the effects of the economic crisis due to the COVID-19 epidemic and for maintaining and increasing the share of innovation-active companies within the Slovenian Smart Specialisation Strategy (S4) priority areas. The financial instruments are also used for mitigating the effects of the economic crisis caused by the COVID-19 epidemic, for supporting SMEs, for promoting the establishment and operation of SMEs, in particular start-ups, and for increasing the added value of SMEs.