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European Investment Bank Gives EUR 50 M for Bulgaria's SMEs
Business | March 21, 2014, Friday // 12:54
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UniCredit Bulbank's CEO Levon Hampartzumian. Photo: BGNES
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.
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