Bulgarian small and medium-sized enterprises (SMEs) have a new chance to benefit from loans with low interest rates and reduced collateral under the Joint European Resources for Micro to Medium Enterprises (JEREMIE) initiative.

The European Investment Fund has signed agreements with four banks (Allianz Bank, First Investment Bank, ProCredit Bank and Soci?t? G?n?rale Expressbank) under the JEREMIE initiative to benefit SMEs in Bulgaria.

With the JEREMIE funding, the four banks will be able to extend loans with reduced interest rates of at least 50% to over 3,300 SMEs across Bulgaria looking to strengthen or expand their businesses.

Information on how to access loans financed under the JEREMIE initiative will soon be available from the selected banks.

The JEREMIE Initiative is implemented in Bulgaria within the framework of the OP "Increase of the competitiveness of the Bulgarian economy 2007- 2013? co-financed by the European Regional Development Fund and the State Budget.

The four banks will double the initial budgetary allocation of EUR 130 М and channel an amount equal to approximately EUR 260 М as low interest rate loans to Bulgarian SMEs.