Project - Dundee Precious Metals Krumovgrad and the Municipality of Krumovgrad join efforts for sustainable local business development and opening new non-mining related jobs

Company

Category

Investor in Community

Project description

Project Aim

The project aims to create favorable conditions for business start-ups and stimulate new, non-mining related job openings in the Municipality of Krumovgrad After considerable cuts in the business of growing tobacco and before the start of our local mining operations, unemployment in this municipality was over 25%. Many people had immigrated abroad in search for better options. DPMK set up a Micro, Small and Medium Enterprise Support Fund, which provides 5 million dollars for local business development.

Project Target Group

The target group of the project are residents of the Krumovgrad Municipality who have their own business, have recently started one or have a business idea.

Project Duration

Ensuring development opportunities during the life of the mine and after Ada Tepe’s decommissioning is a top priority for our Company. Our commitment to set up such a Fund dates to 2015, when we signed a Memorandum of Understanding with the Krumovgrad Municipality

Project Activities

DPMK and the Municipality of Krumovgrad joined efforts and established a partnership to ensure long-term benefits for local residents and a more sustainable future for the region as a whole by supporting and encouraging local SMEs. 2019:  The Fund was established.  Conducted 2 info sessions to present the Fund, application guidelines and project eligibility requirements, as well as raise general awareness about project related business opportunities  Delivered 10 trainings on business plan writing, business and team management, etc.  Regular consultations with experts to enhance the drafting of project proposals;  Two project application deadlines (August and November) - 14 projects submitted (manufacturing and services)  11.12. - special event to announce approved project proposals to receive Fund financial support (plaques and certificates awarded to successful candidates) 2020:  7 application deadlines - 19 projects submitted (farming, manufacture, services)  Candidate consultations - delivered online 2021:  Jan 07 - online event to announce successful project proposals (award plaques and certificates)  February – announced first application deadline fo

Project Results

2019: • Approved 6 projects submitted by 5 business entities, at the total amount of BGN 743 984. • 17 new job openings • All projects were implemented successfully, and their execution continued in 2020, too. 2020: • Approved 14 projects submitted by 13 business entities, at the total amount of BGN 2 852 947. • 35 new jobs created.