Project Aim
The project aims to support the sustainable development of the Krumovgrad municipality,both during the operation and after the closure of the Ada Tepe mine,by supporting and promoting entrepreneurship and financing business initiatives at the local level.The development of the region in which we work and where our employees and their families live is essential to us.Following our core purpose "Unlocking resources and generating value to thrive and grow together",we are innovative,both in production and environmental care,and in our partnerships with the local community.With the establishment of a Fund for the support and promotion of micro,small and medium-sized businesses,we work diligently to support entrepreneurship and aim to create new jobs outside the mining sector.
Project Target Group
The project is for residents of the municipality who:
•have a desire to implement a business idea
•are developing a business and need support for implementing new equipment,for expanding production,for bringing products/services in line with new requirements with the aim of better competitiveness,reaching new markets,better financial results.
The project supports the municipality for the development of entrepreneurship and ensuring long-term employment even after the end of the life of the mi
Project Duration
Improving the well-being and new opportunities for development and entrepreneurship in the Krumovgrad municipality and after the end of the life of the Ada Tepe mine is a top priority for the Company.The commitment to create a fund to support entrepreneurship dates back to 2015 with the signing of a Memorandum of Understanding between DPM Krumovgrad and the Municipality of Krumovgrad.The fund was created as a voluntary initiative of the DPMK and has been operating for 4 years starting in 2019
Project Activities
With their partnership,DPMK and the municipality strive to ensure lasting benefits for residents and a more sustainable future by supporting and encouraging business ideas. DPMK provides grant funding for the development of entrepreneurial projects.The remaining part is provided through a loan from the partner bank and self-participation of the entrepreneur.
•Establishment of the fund - 2019
• DPMK provides grant funding to support projects - 55% of the total value of each project - annually
• Provision of a loan from the partner bank - 35% of the total value of the project - annually
• Provision of preferential interest rates for the loan - revised annually
• DPMK guarantees every loan under an approved project - permanently
• Informational meetings to explain the application conditions - periodically
•Consultations with experts in order to support the preparation of projects - provided by the financial and technical partner on an ongoing basis
•Trainings for business plan preparation - periodically
• Announcement of acceptance periods for submitting projects - periodically
• Event to announce the beneficiaries of the fund - annually
•Publications and promotion - consta
Project Results
The financed projects are in the fields of agriculture,production,services.
2019–2021:
• 33 projects financed
• Created 95 jobs
• Total grant value - BGN 3,757,853
•Total value of the projects – BGN 7.5 mln
2022:
•Funded 15 projects
•Created 33 jobs
•Total grant value – BGN 1,365,650
•Total value of the projects – BGN2.5 mln
In 2021 DPM established a fund in the Chelopech as well.In partnership with the municipalities of Chelopech,Chavdar and Zlatitsa,the good practice transferred from Krumovgrad for financing a business independent of mining.
2021 - 2022,Fund in Chelopech,Chavdar and Zlatitsa
•19 projects financed
•24 jobs created
•Total grant value–BGN428,944
•Total value of the projects–BGN910,138