European Investment Bank Gives EUR 50 M for Bulgaria's SMEs
The European Investment Bank (EIB) provides UniCredit Bulbank with EUR 50 M for financing Bulgarian SMEs in agriculture, industry and services.
The first half of the credit line was presented by Mihai Tnasesku, EIB vice president and UniCredit Bulbank's CEO Levon Hampartzumian.
The EIB funds will improve the access of SMEs to financial resources for their projects.
The total sum of the EIB loan is EUR 100 M and the maximum sum for one company is EUR 12.5 M.
According to EIB, in 2013 in Bulgaria it gave out loans totalling EUR 270 M, which is a 48% increase, compared to 2012. The bank financed major infrastructural projects such as the Sofia transport program, which got EUR 50 M.
- » EC Threatens Punitive Measures against Bulgaria, Serbia over South Stream
- » Finance Ministry Meets with EPIC to Discuss KTB Recovery
- » Bulgaria Braces for Possible Disruption in Russian Gas Supplies
- » Bulgaria’s Caretaker Govt OKs Financial Corrections of BGN 152 M under OP Environment
- » Bulgaria Air to Fly to China, Belarus
- » Power Rates in Bulgaria to Go Up by up to 10% as of October - Watchdog